Archegos shows up US swaps reporting shambles
Problems with existing data mean SEC’s pending TRS reporting rules won’t bring the issue to order
For the Securities and Exchange Commission, the timing of Archegos Capital Management’s demise looks unfortunate. Just months after security-based swap trades destroyed Bill Hwang’s family office and saddled his prime brokers with multi-billion-dollar losses, the commission would finally implement a key piece of Dodd-Frank Act-mandated regulation designed to ensure reporting of these very instruments.
But would the Security-Based Swaps Reporting (SBSR) rules have enabled the SEC to spot the
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