How the SEC’s swap proposal could stall shareholder activism

At first glance, a push by the US Securities and Exchange Commission for more transparency in security-based swap positions may seem like child’s play.

Finally, the abuse of one type of swap, namely credit default swaps, was a major contributor to the 2007-08 global financial crisis. And a second type, total return swaps, contributed to the multi-billion dollar collapse of Archegos Capital Management last year.