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ARTICLE · 21 MAY 2025

A Sigh Of Relief: SEC Reporting Parties Can Continue Following CFTC Reporting Rules When Reporting Security-Based Swap Data Until 2029

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As a result of the Securities and Exchange Commission recently extending relief that the Commission originally granted under its 2019 Compliance Statement, security-based swap market participants are allowed to continue following the Commodity Futures Trading Commission's swap reporting rules.

United StatesFinance and Banking
Carl E. Kennedy
Carl E. Kennedy
Nicholas Gervasi
Nicholas Gervasi
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As a result of the Securities and Exchange Commission (SEC or the Commission) recently extending relief that the Commission originally granted under its 2019 Compliance Statement, security-based swap (SBS) market participants are allowed to continue following the Commodity Futures Trading Commission's (CFTC) swap reporting rulesinstead of complying with certain requirements in the SEC's Regulation SBSR.1 The SEC's relief, which was once set to expire in November 2025, will now remain in effect through November 5, 2029.

Background: Why the Relief Exists

The 2019 Compliance Statement was issued alongside SEC rule amendments and guidance addressing the cross-border application of SBS requirements under the Securities Exchange Act of 1934.2 It aimed to ease the compliance burden associated with Regulation SBSR (Reporting and Dissemination of Security-Based Swap Information), which governs the regulatory reporting and public dissemination of SBS transactions. Adopted

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