SEC releases final swaps-based securities taxonomy

Posted on July 7, 2024 by Editor

The US Securities and Exchange Commission (SEC) has published the final Security-Based Swap (SBS) Taxonomy. This taxonomy will be integrated into the EDGAR 24.2 release, facilitating the digital filing of compliance and risk-management information by swap trading entities.

This release follows the SEC's final rule on Security-Based Swap Execution and Registration of Security-Based Swap Execution Facilities (SBSEF), adopted late last year. The SBSEF rule addresses critical conflict-of-interest and efficiency issues in the swaps market, establishing a framework for registration and regulation.

Swap-trading entities are required to submit a variety of information to EDGAR, enhancing transparency and oversight. XBRL US provided feedback on the draft taxonomy, suggesting improvements for usability and clarity, and recommended delaying the compliance deadline to year-end. Stakeholders are encouraged to review the sample documents released in advance of the EDGAR update.

The final SBS Taxonomy is available here.