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.

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