Partner Ignacio Sandoval spoke with the Financial Times in advance of the US Securities and Exchange Commission’s vote on a proposed rule that would create a sweeping new reporting and disclosure regime for participants in the securities lending markets.
Commenting on the proposed 15-minute reporting requirement, or end-of-day as requested by some industry participants, Ignacio told the FT that it “makes sense for securities loans.”
“This isn’t your typical type of transaction that you have [on] an exchange or other type of platform,” said Ignacio, who described the deals as an iterative process. “It can take the entire day and not be finalised until the end of day. So then the question is, when are those terms really finalised? And at what point do you actually have a reportable transaction?”
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