Bringing Transparency to U.S. Securities Lending
SEC Rule 10c-1a introduces mandatory reporting of securities lending transactions to FINRA, designed to improve transparency and oversight in a market that has historically been opaque. The rule applies to lenders, lending agents, and broker-dealers involved in covered securities loans, and reporting will be managed through FINRA’s Securities Lending and Transparency Engine (SLATE).
Reg-X provides a comprehensive 10c-1a reporting solution that automates daily submissions, enhances data quality and assurance, offers outsourced regulatory operations, and enables firms to meet their compliance obligations with confidence.
What is SEC Rule 10c-1a?
Adopted in October 2023, Rule 10c-1a requires that the material terms of covered securities loans are reported to FINRA. Unlike SFTR, the regime is narrower in scope but introduces strict same-day reporting deadlines (T+0) and requires event-driven submissions.
Covered securities loans include transactions where equities or fixed income securities are lent, excluding repos. The obligation falls on the lender or their intermediary, such as agent lenders or broker-dealers. Reports must capture details such as loan date, collateral type, rates and fees, borrower type, and termination date. Certain fields are also made public by FINRA to promote transparency.
Public dissemination of data is scheduled to begin in March 2027, following the compliance date of 28 September 2026.
Reg-X SEC 10c-1a Solution
Our platform builds on proven delivery across SFTR, EMIR, and CFTC, providing a reliable and scalable solution for U.S. securities lending reporting.
Key features include:
- Seamless integration with existing trade files and systems across formats (CSV, JSON, XML)
- Data enrichment for critical fields such as LEIs, identifiers, and reference data
- Automated daily submissions via FINRA’s SLATE platform through secure connectivity
- Single interface for both SFTR and SEC 10c-1a reporting, ensuring consistency and ease of use
- Validation and quality assurance tools to detect errors before submission
- Exception management and audit reporting to simplify oversight
- Horizon scanning to ensure readiness for regulatory updates
Why Choose Reg-X?
Implementing SEC 10c-1a reporting is not a trivial task. With strict same-day reporting, overlapping but distinct requirements from SFTR, and 47 data fields to manage, firms need a solution that is both robust and flexible.
Reg-X simplifies the challenge by offering:
- One platform for multiple regimes, including SFTR, EMIR, and 10c-1a
- Deep subject matter expertise in securities finance and transaction reporting
- Integration with major SFT platforms for efficient data capture
- Low cost of ownership with minimal IT involvement
Stay Compliant with Confidence
With SEC Rule 10c-1a set to go live in September 2026, firms should prepare now to avoid compliance risks and operational strain. Reg-X delivers a trusted, future-ready solution, enabling market participants to meet their obligations on time, reduce reporting risk, and focus on their business.
Speak to our team today to learn how we can support your 10c-1a compliance.
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