Form SBSE-BD Filings

What Is SEC Form SBSE-BD?

SEC Form SBSE-BD is an important filing required under Section 15F(b) of the Securities Exchange Act of 1934. It is used by firms that are registered or registering with the SEC as broker-dealers to apply for registration as a security-based swap dealer or major security-based swap participant.

This form is typically filed when an eligible broker-dealer seeks to begin or formalise registration for security-based swap activities with the SEC. It may also be amended when previously filed information becomes inaccurate or incomplete.

Form SBSE-BD helps the SEC collect registration information for security-based swap entities that are broker-dealers. It applies to initial applications and amendments rather than a recurring periodic report, and complete registration also requires Form SBSE-C and any additional documents filed electronically through EDGAR.

Key elements typically found in SEC Form SBSE-BD include:

• Name of the applicant and CRD number
• Registration status as a security-based swap dealer or major security-based swap participant
• Whether the applicant is registered or registering with the CFTC
• Whether the applicant is subject to prudential regulation or registered as an over-the-counter derivatives dealer
• Brief description of the applicant’s business
• Information about foreign financial regulatory registrations and Schedule F, if applicable

SEC Form SBSE-BD Filing Deadlines

SEC Form SBSE-BD is an application-based filing rather than a form with a fixed recurring deadline. Timing depends on when an eligible broker-dealer seeks registration or when previously filed information must be updated.

Key Things to Know About Form SBSE-BD Filing Rules

• Broker-Dealer-Specific Form: Form SBSE-BD is used by firms that are registered or registering with the SEC as broker-dealers, rather than by firms using Form SBSE or Form SBSE-A.
• Also Covers Amendments: The form is used for both an initial application and amendments to correct or update previously filed information.
• Electronic Filing Required: Form SBSE-BD must be filed electronically with the SEC through the EDGAR system, together with the required additional registration documents.
• Form SBSE-C Is Also Required: An application is considered filed when the applicant submits a complete Form SBSE-BD, a complete Form SEC Form SBSE-BD Filing List – Track Security-Based Swap Registration Filings
• -C, and all required additional documents electronically.
• Schedule F May Apply: Nonresident applicants and applicants with foreign financial regulatory registrations may need to complete Schedule F.

SEC Form SBSE-BD is a registration form used by broker-dealers to apply as security-based swap dealers or major participants. Analysts may explore broader market activity, including trends among new insiders, review context in Important SEC Filings, or monitor participation among new individual SEC filers.