Here is 13A in its entirety. I am still unable to find the part that requires full reporting for pinks. If you would show me which paragraph expressly pertains to a requirement of full reporting to avoid suspension of trading, I would really appreciate it. If you require assistance, you might contact that S.E.C. lawyer for a more direct interpretation. Thanks.
SEC. 13A. REPORTING AND RECORDKEEPING FOR CERTAIN SECU
RITY-BASED SWAPS.
(a) REQUIRED REPORTING OF SECURITY-BASED SWAPS NOT AC
CEPTED BY ANY CLEARING AGENCY OR DERIVATIVES CLEARING OR
GANIZATION.—
(1) IN GENERAL.—Each security-based swap that is not ac
cepted for clearing by any clearing agency or derivatives clear
ing organization shall be reported to—
(A) a security-based swap data repository described in
section 13(n); or
(B) in the case in which there is no security-based
swap data repository that would accept the security-based
swap, to the Commission pursuant to this section within
such time period as the Commission may by rule or regula
tion prescribe.
(2) TRANSITION RULE FOR PREENACTMENT SECURITY-BASED
SWAPS.—
(A) SECURITY-BASED SWAPS ENTERED INTO BEFORE THE
DATE OF ENACTMENT OF THE WALL STREET TRANSPARENCY
AND ACCOUNTABILITY ACT OF 2010.—Each security-based
swap entered into before the date of enactment of the Wall
Street Transparency and Accountability Act of 2010, the
terms of which have not expired as of the date of enact
ment of that Act, shall be reported to a registered security-
based swap data repository or the Commission by a date
that is not later than—
(i) 30 days after issuance of the interim final rule;
or
(ii) such other period as the Commission deter
mines to be appropriate.
(B) COMMISSION RULEMAKING.—The Commission shall
promulgate an interim final rule within 90 days of the
date of enactment of this section providing for the report
ing of each security-based swap entered into before the
date of enactment as referenced in subparagraph (A).
(C) EFFECTIVE DATE.—The reporting provisions de
scribed in this section shall be effective upon the date of
the enactment of this section.
(3) REPORTING OBLIGATIONS.—
(A) SECURITY-BASED SWAPS IN WHICH ONLY
COUNTERPARTY IS A SECURITY-BASED SWAP DEALER OR
MAJOR SECURITY-BASED SWAP PARTICIPANT.—With respect
1
143 SECURITIES EXCHANGE ACT OF 1934 Sec. 13A
to a security-based swap in which only 1 counterparty is
a security-based swap dealer or major security-based swap
participant, the security-based swap dealer or major secu
rity-based swap participant shall report the security-based
swap as required under paragraphs (1) and (2).
(B) SECURITY-BASED SWAPS IN WHICH 1 COUNTERPARTY
IS A SECURITY-BASED SWAP DEALER AND THE OTHER A
MAJOR SECURITY-BASED SWAP PARTICIPANT.—With respect
to a security-based swap in which 1 counterparty is a secu
rity-based swap dealer and the other a major security-
based swap participant, the security-based swap dealer
shall report the security-based swap as required under
paragraphs (1) and (2).
(C) OTHER SECURITY-BASED SWAPS.—With respect to
any other security-based swap not described in subpara
graph (A) or (B), the counterparties to the security-based
swap shall select a counterparty to report the security-
based swap as required under paragraphs (1) and (2).
(b) DUTIES OF CERTAIN INDIVIDUALS.—Any individual or entity
that enters into a security-based swap shall meet each requirement
described in subsection (c) if the individual or entity did not—
(1) clear the security-based swap in accordance with sec
tion 3C(a)(1); or
(2) have the data regarding the security-based swap ac
cepted by a security-based swap data repository in accordance
with rules (including timeframes) adopted by the Commission
under this title.
(c) REQUIREMENTS.—An individual or entity described in sub
section (b) shall—
(1) upon written request from the Commission, provide re
ports regarding the security-based swaps held by the indi
vidual or entity to the Commission in such form and in such
manner as the Commission may request; and
(2) maintain books and records pertaining to the security-
based swaps held by the individual or entity in such form, in
such manner, and for such period as the Commission may re
quire, which shall be open to inspection by—
(A) any representative of the Commission;
(B) an appropriate prudential regulator;
(C) the Commodity Futures Trading Commission;
(D) the Financial Stability Oversight Council; and
(E) the Department of Justice.
(d) IDENTICAL DATA.—In prescribing rules under this section,
the Commission shall require individuals and entities described in
subsection (b) to submit to the Commission a report that contains
data that is not less comprehensive than the data required to be
collected by security-based swap data repositories under this title.
(June 6, 1934, ch. 404, title I, Sec. 13A, as added Pub. L. 111-203,
title VII, Sec. 766(a), July 21, 2010, 124 Stat. 1797.)
