SEC RULE 10c-1a


The U.S. Securities & Exchange Commission’s (SEC) final rule 10c-1a is designed to provide investors, other market participants and regulators with access to loan rates and other material information regarding securities lending transactions in a timely manner. Repo transactions are out of scope. 

Lenders are required to report loan transactions and modifications. Borrowers are required to report transactions when the borrower is a broker-dealer when borrowing fully paid or excess margin securities. The SEC believes that this will improve price discovery, increase market efficiency and aid regulators’ oversight of this important market.

SEC 10c-1a - EquiLend Offers:

SEC Reporting

Utilize existing & new products to fulfill 10c-1a reporting

Data Archiving

Retention of trade reporting data on EquiLend servers to be readily available for regulator/client access

Reporting Support

Dedicated team to provide daily product support & monitor SEC activity for future regulatory changes

EquiLend Data & Analytics

Provide market-leading activity insight

Final Rule Purpose & Key Aspects

  • Covered persons must provide certain terms of their securities lending transactions to an RNSA
  • 12 key fields to be reported by the end of the day on which a covered securities loan is effected, including: time and date of the loan, amount of securities loaned, rates, fees, charges and rebates, type of collateral and other transaction information
  • RNSA will produce Unique Identifiers for all loans reported
  • Expected compliance date with this regulation is Q1 2026

EquiLend’s 10c-1a Solution


EquiLend intends, and is well placed, to provide a reporting solution for clients


EquiLend is a registered broker dealer and therefore has the required regulatory status to act as a Reporting Agent


EquiLend already captures large volumes of intraday and end-of-day transaction and position data in our existing solutions (NGT, OneFile, DataLend)


EquiLend has heritage/experience in the reporting space gained through the development of solutions for ALD and SFTR processing and reporting


EquiLend is also well placed to incorporate data on securities lending published by an RNSA into its range of Data & Analytics solutions

10c-1a vs SFTR

What’s the difference between SEC 10c-1a and SFTR? 

Dive into the details of our side-by-side comparison of SEC Rule 10c-1a and the European reporting rule SFTR.

Tentative Timeline


Regulation Release

Q1 2024

Final Rule 10c-1a Becomes Effective

Q2 2024

FINRA Implementation Proposal

Q2 2024

FINRA Development

Q2 2025

Completion of FINRA Build

Q2 2025

FINRA Integration With Industry Participants

Q1 2026

Regulation Go-Live

Q1 2026

FINRA Public Reporting Go-Live

10c-1a Insight

Kevin McNulty

Head of RegTech Solutions
+44 (0) 203 023 8394

Iain Mackay

Iain Mackay

Product Owner, RegTech Solutions
+44 207 426 4402