Singapore: What are the reporting obligations of an entity that has just become an SDH?

When an entity becomes an SDH, he is required to commence the reporting of (i) all  reportable OTC derivatives contracts that he enters into from the date on which he  becomes an SDH and (ii) some existing reportable OTC derivatives contracts which he has  entered into prior to becoming an SDH. Please refer to Q2.1 for more information on  reportable OTC derivatives contracts and Q2.2 for existing contracts which are required  to be reported.  

For example, if an entity becomes an SDH on 1 July 2021, he is to report all reportable  derivatives contracts, which were executed on and after 1 July 2021, within 2 business  days of the execution. He is also required to report, within 6 months from 1 July 2021,  reportable derivatives contracts that are booked in Singapore and have a remaining  maturity of at least one year from 1 July 2021.  

References:  

• Regulations 5 and 9 of the SF(RDC)R 
• Second Schedule and Third Schedule to the SF(RDC)R