SEC Security Based Swap (Dodd Frank) Reporting

The Swap Data reporting rules are the US government's response to the 2007/8 financial crisis and the G20 Pittsburgh agreement that banks and financial firms must report all OTC derivative trading activity so that regulators could monitor systemic risk. The US Swap Data reporting rules are part of the Dodd-Frank Act and overseen by the CFTC and the SEC.

What is SEC SBSR Reporting?

Firms trading OTC derivatives (swaps) in the US must report details to a registered Swap Data Repository (SDR). The reporting obligations include;

  • Part 43 real-time reporting to provide transparency on pricing to the  market
  • Part 45 transaction and valuation reporting to allow regulators to monitor for systemic risk.

The Securities Exchange Commission (SEC) oversee the reporting of OTC derivative swaps related to ‘single name’ Credit and Equity securities under the Security Based Swap Reporting (SBSR) portion of the Dodd Frank Act (DFA).

SEC SBSR was originally expected to commence in 2015 but was delayed for several years due to technical and legal issues. SEC Part 45 transaction reporting commenced on 8 November 2021.

SEC Part 43 real-time (public price dissemination – PPD) reporting begins on 14 February 2022.

* All other Credit & Equity transactions fall under CFTC reporting rules.

How we can help

Our ReportShield™ quality assurance services give you the ability to demonstrate appropriate controls over your reporting obligations for Parts 43 and 45. We can also conduct cross-regulation testing to ensure consistency with other regimes and provide remediation of reports.

Is your SEC reporting accurate and complete?

For a free healthcheck of your reporting or a conversation with one of our regulatory specialists, please fill in the form below.

  • This field is for validation purposes and should be left unchanged.