The SEC adopted amendments and guidance concerning regulatory reporting and public dissemination of security-based swap transactions ("Regulation SBSR"). The final amendments were published in the Federal Register.
Compliance with Regulation SBSR will involve the following conditions:
- reporting compliance must be the later of (1) six months after the date that the first registered security-based swap data repositories that can accept reports in the relevant asset class registers with the SEC, or (2) one month after the registration compliance date for security-based swap dealers. The same compliance date would apply to certain requirements that are applicable to SDRs.
- public dissemination compliance must be within three months after the first compliance date.
- reporting compliance for "historical" security-based swaps must be within two months after the second compliance date.
The final amendments, as revised, will be effective on October 11, 2016.
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