Comment Deadline Set For SEC Proposal On Reporting Requirements For SBS Transactions

The SEC published in the Federal Register proposed rule changes to reporting requirements for security-based swap ("SBS") transactions. Comments on the proposal are due by March 21, 2022.

As previously covered, the SEC proposed three new rules relating to SBSs: (i) an anti-fraud rule (a revised and re-proposed version of a 2010 proposed rule); (ii) a rule to require reporting of large positions in SBSs; and (iii) a rule prohibiting personnel of an SBS entity from taking any action to improperly interfere with the SBS entity's chief compliance officer in the performance of such person's duties.

Primary Sources

1. SEC: Prohibition Against Fraud, Manipulation, or Deception in Connection With Security-Based Swaps; Prohibition Against Undue Influence Over Chief Compliance Officers; Position Reporting of Large Security-Based Swap Positions