Security-Based Swap Dealers: Preparing for Trade Reporting

This article first appeared in Compliance Reporter.

A key hurdle in preparing for life as a security-based swap dealer (SBSD) will be implementing operational changes and written policies and procedures to report new security-based swaps (SBS) and backload legacy trades. These requirements are included in the trade reporting regime, known as Regulation SBSR, that was recently finalized by the Securities and Exchange Commission.