CFTC’s Scott O’Malia Calls for a Plan of Action on Swap Data
The Commodity Futures Trading Commission ("CFTC") has proposed swap reporting and recordkeeping amendments that would: designate a unique product identifier ("UPI") and product classification system ("PCS") for the "other...more
The Securities and Exchange Commission (SEC) proposes to amend Regulation Systems Compliance and Integrity (Reg SCI) to update and expand the regulatory oversight of the core technology of the U.S. securities markets.1 The...more
Accurate and timely reporting of swap data is the cornerstone of swap regulation. The CFTC had promulgated its swap reporting rules in 2012, and were after 2012 among the first rules implementing the Dodd-Frank Act to...more
REGULATORY UPDATES - SEC Leadership Changes - On April 17, 2021, Gary Gensler was sworn into office as the Chair of the Securities and Exchange Commission (the “SEC”). Gensler served as chair of the U.S. Commodity Futures...more
On September 17, 2020, the Commodity Futures Trading Commission (CFTC) unanimously approved final rules amending the agency’s swap data reporting and derivatives clearing organization (DCO) registration requirements. The...more
BROKER-DEALER - FINRA Releases Targeted Examination Letter for No Commission Brokers - On February 20, the Financial Industry Regulatory Authority (FINRA) released a targeted examination letter requesting that certain...more
The Commodity Futures Trading Commission (CFTC) has proposed the first installment of a series of amendments to its rules relating to swap data repositories (SDRs) and reporting of swap data. The proposed amendments, which...more
The Commodity Futures Trading Commission (CFTC) is proposing a significant, new reporting burden on swaps reporting parties and on swaps data repositories (SDRs). The proposal would impose new requirements on SDRs to verify...more
BROKER-DEALER - SEC Extends Compliance Date for Regulation NMS Changes - The Securities and Exchange Commission has extended the compliance dates for amendments to Rule 606 of Regulation National Market System (NMS)...more
On April 25, 2019, the Commodity Futures Trading Commission (CFTC or Commission) published for public comment proposed amendments to the rules governing swap data repositories (SDRs) and reporting obligations of swap market...more
Summary: The Commodity Futures Trading Commission (“CFTC” or “Commission”) on June 4, 2018, in its first public meeting of the year, proposed three rule changes to the rules implementing the Dodd-Frank Wall Street Reform and...more
The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (Division) announced the launch of an in-depth review of the swap data reporting regulations found in Parts 43, 45, and 49 of the CFTC’s...more
In the most recent example of federal regulatory streamlining, the Commodity Futures Trading Commission (CFTC) announced on July 10 that it will undertake a comprehensive review of the swap data reporting regulations....more
On July 10, 2017, the Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC or Commission) announced the launch of a comprehensive review of the swap data reporting regulations1 adopted by the...more
On February 22, 2016, the Commodity Futures Trading Commission (“CFTC”) closed the public comment period on its recently proposed enhanced cybersecurity rules for derivatives clearing house organizations, trading platforms,...more
The Commodity Futures Trading Commission has issued an order authorizing National Futures Association (NFA) as a designee of the CFTC for purposes of receiving direct electronic access to swap data repository (SDR) data. All...more
SEC Reopens Comment Period for Proposed Amendments to Rule 13n-4 under the Securities Exchange Act of 1934 - On January 15, the Securities and Exchange Commission reopened the comment period for proposed amendments to...more
The Commodity Futures Trading Commission has proposed rules that would require all derivatives clearing organizations (DCOs), swap data repositories (SDRs), designated contract markets (DCMs) and swap execution facilities...more
The Commodity Futures Trading Commission (CFTC) recently brought its first enforcement action arising from the Dodd-Frank requirement that swap transactions be reported to a registered swap data repository (SDR). The CFTC has...more
On September 29, 2015, Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad delivered a “State of the Derivatives Marketplace” speech before the 3rd Annual OTC Derivative Summit North America. The speech...more
The Commodity Futures Trading Commission has issued an order to ICE Trade Vault, LLC that adds two additional asset classes of swaps—interest rate and foreign exchange—to the list of asset classes that ICE Trade Vault may...more
On September 15, the Securities and Exchange Commission adopted revisions to the EDGAR Filer Manual to add two new Security-based Swap Data Repository submission form types, as well as new Exhibits and new formatting updates....more
Regulatory Developments: DOL Releases Transcripts of Fiduciary Standard Hearings - The Department of Labor (DOL) has released the transcripts of the hearings held by the agency in August on its proposed fiduciary...more
Regulatory Developments - CFTC Issues Proposed Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps: On Aug. 19 the CFTC announced that it had voted to propose amendments to existing...more
A flurry of activity was seen last week on the House floor as the Financial Services Committee reported on various bills, many of which JOBS Act related. These bills propose to change registration and reporting requirements...more