Cultura

Divided SEC adopts rules for swap data warehouses

By Sarah N. Lynch

WASHINGTON (Reuters) - A divided U.S. Securities and Exchange Commission voted along party lines on Wednesday to adopt rules that create a new regime for specialized warehouses tasked with collecting and sharing swap trading data.

In a 3-2 vote, the SEC approved the raft of rules that require "swap data repositories" to register and establish governance rules, and which also mandate that certain swap trading data be publicly reported.

Republican SEC commissioners lamented a measure in the rules that holds staff at the warehouse liable for lying to a chief compliance officer. The SEC's two Democratic commissioners supported the rules, but also complained that they still fall short because they fail to require real-time reporting at this time or define "block trades."

(Reporting by Sarah N. Lynch)

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