SEC amends swaps reporting rules 02 September 2016Washington DC Reporter: Drew Nicol
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The US Securities and Exchange Commission (SEC) has formally adopted amendments to its reporting requirements for security-based swaps data repositories.
The amendments, which were based on a proposal from September 2015, add a greater level of data confidentiality by requiring the a memorandum of understanding or similar legal arrangement to exist between the commission and the recipient of the data.
The reforms also stipulate the need to identify the five “prudential regulators” named in the statute, as well as the Federal Reserve banks and the Office of Financial Research, as being eligible to access the data.
The SEC also highlighted whether to permit other entities to access data, and under what circumstances that would be possible.
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