CFTC Requests Comment on Swap Data Reporting Rules


On March 19, the Commodity Futures Trading Commission approved for publication in the Federal Register a request for public comment on swap data reporting requirements under Part 45 of the CFTC’s regulations. The request was developed by a CFTC interdivisional working group that was charged with reviewing the reporting rules and making recommendations for resolving reporting challenges. The request seeks comment on confirmation data reporting, continuation data reporting, reporting transactions and workflows not explicitly addressed in swap data reporting rules, monitoring the primary economic terms of a swap, reporting of cleared swaps, other swap data repository (SDR) and counterparty obligations, swap dealer and major swap participant oversight, risk monitoring and surveillance, and swap data ownership and transfer across SDRs. Although the CFTC did not specifically request comments regarding the requirements imposed by Part 43 of its regulations (real-time public reporting of swap transaction data) or Part 46 (recordkeeping and reporting for pre-enactment and transition swaps), it did invite comments on other “challenges” associated with the reporting of swap transaction data. 

Comments are due 60 days after publication in the Federal Register. 

The request for comment is available here.

Topics:  CFTC, Swap Data Repositories, Swaps

Published In: Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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