The SEC adopted amendments to Exchange Act Rule 13n-4 that implement the conditional requirement for security-based swap data repositories to make data available to certain regulators and other authorities including non-U.S. authorities. The final amendments were published in the Federal Register and will become effective on November 1, 2016.
The SEC security-based swap data repository's obligation to provide data is conditioned on the entrance into a memorandum of understanding, or other arrangement addressing the confidentiality of the security-based swap information that is being made available, by the SEC and the relevant authority. Accordingly, a repository will have no disclosure obligation pursuant to these rules until such an arrangement has been entered into and becomes effective.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
