15 U.S.C. § 78m–1 — Reporting and recordkeeping for certain security-based swaps

(a) Required reporting of security-based swaps not accepted by any clearing agency or derivatives clearing organization (1) In general: A security-based swap that isn't accepted for clearing by any clearing agency or derivatives clearing organization must be reported to (A) a registered security-based swap data repository (the kind described in section 78m(n)), or (B) if no repository will accept it, directly to the SEC, within whatever time period the SEC prescribes by rule. (2) Transition rule for preenactment security-based swaps: (A) A security-based swap entered into before July 21, 2010, whose terms hadn't expired by that date, must be reported to a registered repository or the SEC by (i) 30 days after the SEC issues its interim final rule, or (ii) another period the SEC decides is appropriate. (B) The SEC had to issue that interim final rule within 90 days of July 21, 2010, covering how to report these pre-enactment swaps. (C) These reporting rules became effective on July 21, 2010. (3) Reporting obligations: (A) If only one side of a security-based swap is a security-based swap dealer or major security-based swap participant, that side must report the swap under paragraphs (1) and (2). (B) If one side is a dealer and the other a major participant, the dealer must report it. (C) For any other security-based swap not covered by (A) or (B), the two counterparties must choose between themselves who reports it. (b) Duties of certain individuals Anyone — individual or entity — who enters a security-based swap must satisfy each requirement in (c) if they did not (1) clear the swap under section 78c–3(a)(1), or (2) have the swap's data accepted by a security-based swap data repository under the SEC's rules (including its timing rules). (c) Requirements Someone covered by (b) must: (1) if the SEC asks in writing, give it reports on their security-based swaps, in whatever form and manner the SEC requests; and (2) keep books and records about those swaps, in whatever form, manner, and for whatever period the SEC requires, open to inspection by (A) any SEC representative, (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 When writing rules under this section, the SEC must require that individuals and entities covered by (b) submit reports containing data that's at least as complete as the data registered security-based swap data repositories must collect under this chapter.