How to avoid potential hidden consequences of SEC’s new transaction reporting rules.

The SEC intends to implement its transaction reporting and public dissemination rules on 8 November to get further oversight into the security-based swaps market.

And while the regulator has tried in earnest to avoid unnecessary burden on market participants by aligning these new rules with the existing CFTC reporting rules – which have been embedded for nearly a decade at this point – there are several nuances in the SEC and CFTC rules we have identified which have the potential to cause increased operational responsibility and unexpected consequences.

The implementation date of the SEC’s new rules will be here before we know it, so to shine a light on what is to come, we have focussed on the two key differences between the SEC and CFTC reporting rules, what the differences mean in real terms, and clear questions to address to ensure preparedness over the next four months.

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