CFTC Extends Compliance Dates for Certain Swap Dealer and Major Swap Participant Requirements

The Commodity Futures Trading Commission has issued interim final rules extending the effective dates for certain business conduct and documentation requirements for swap dealers (SDs) and major swap participants (MSPs). Specifically, the CFTC deferred the compliance dates for provisions in Part 23 relating to general records and documentation requirements, including user exemption documentation requirements, until May 1, 2013. In addition, the CFTC deferred the compliance dates for Part 23 provisions relating to portfolio reconciliation and swap trading relationship documentation until July 1, 2013.

The CFTC interim final rule is available here.