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SEC Rule 18a-7(a)(1)

Certain swap firms trading in security-based swaps are required to submit monthly reports to the SEC within 17 business days of the month's end.

Rule Overview

Jurisdiction: United States

Regulator: SEC

Topic: Recordkeeping

Overview
Latest News
Further Reading

This rule applies to security-based swap dealers and major security-based swap participants.

It requires these firms to file monthly reports with the SEC.

These reports must be filed on a timely basis to ensure that the SEC receives current and accurate information about the financial activities and condition of these entities.

For security-swap dealers that have been authorized by the SEC to compute net capital this includes reports on:

  • market risk
  • daily intra-month value at risk
  • aggregate value at risk
  • credit risk
  • other regular risk reporting
  • a report on the number of business days for which daily net trading loss exceeded the corresponding daily VaR
  • internal model backtesting results
Latest News More on SEA 1934 Rule 18a-7 

Further Reading

LII 240.18a-7 Go to https://www.law.cornell.edu/cfr/text/17/240.18a-7#:~:text=%281%29%20Every%20security-based%20swap%20dealer%20or%20major%20security-based,reports%20pursuant%20to%20paragraph%20%28c%29%20of%20this%20section%3A