SEC Approves OBS Supplemental Schedule

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The Securities and Exchange Commission approved the adoption of a supplemental schedule for derivatives and other off-balance sheet items. The supplemental schedule requires carrying or clearing firms to report certain information, including gross exposures in financing transactions, interests in and exposure to variable interest entities, non-regular way settlement transactions, underwriting activities and derivatives transactions. Subject to a de minimis exception, carrying or clearing firms are required to file the supplemental schedule with FINRA on a quarterly basis using the eFOCUS system. The initial supplemental schedule must be filed by July 31, 2013.

More information is available here.

 

 

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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