Cappitech & Pirum SEC 10c-1a Solution

On October 13, 2023, the SEC voted to adopt a new rule, SEC 10c-1a regulation, to increase the transparency of securities lending transactions in the U.S. On July 28th 2025, the U.S. Securities and Exchange Commission issued an order granting temporary exemptive relief for Rule 10c-1a. The new compliance dates are as follows:

New Reporting Date: Now September 28, 2026 (previously January 2, 2026)
New Dissemination Date: Now March 29, 2027 (previously April 2, 2026)

There are several key areas in the incoming regulation that will impact reporting requirements:

• Submissions need to be made to FINRA
• Lenders, Lending Agents or brokers (Only 1 side of the trade) are required to report
• Submissions are required by the end of day
• FINRA will publish anonymized data to the general public
• Reportable products include those currently required under CAT, TRACE & MSRB RTRS regimes
• A third party can be used to assist firms

S&P Global Market Intelligence Cappitech will continue to collaborate with Pirum Systems to deliver a reporting solution tailored to meet the unique requirements and workflows of the incoming SEC 10c-1a regulation.

The solution combines Cappitech’s rigorous data validation, event creation, and regulatory connectivity with Pirum’s UTI generation, exchange, and reconciliation abilities. to form an efficient and streamlined reporting solution.

To learn more, fill in the form and one of our experts will contact you.