SEC Adopts Amendments to Regulation SBSR
Client Memorandum

Created date


On July 14, 2016, the Securities and Exchange Commission adopted amendments to and provided guidance on Regulation SBSR, its rules governing the reporting and public dissemination of security-based swap data.  Among other things, the amendments and guidance supplement Regulation SBSR by:

  • assigning reporting duties for platform-executed security-based swaps that will be submitted to clearing and for security-based swaps that have a registered clearing agency as a direct counterparty;
  • establishing reporting requirements for certain cross-border security-based swaps;
  • providing further guidance on the application of Regulation SBSR to bunched orders and prime brokerage arrangements; and
  • prohibiting a registered security-based swap data repository from imposing fees or usage restrictions on data that is required to be publicly disseminated.