SEC Moves Closer on Swap Rules

WASHINGTON—U.S. securities regulators are inching closer to completing postcrisis rules designed to bring more sunlight to the multitrillion-dollar swaps market. The Securities and Exchange Commission voted 3-2 Wednesday to complete a package of rules establishing data hubs to collect and store information on swaps trades for the portion of the market overseen by the agency. The data hubs are seen as crucial for monitoring potential risks in the swaps market. The agency also voted 3-2 to approve a framework of standards for the public reporting of the swaps transactions. More in the Wall Street Journal here.