Following on the heels of a less than complimentary report from the Inspector General, the CFTC has launched a process to review swaps data reporting regulations. The comment period on this topic is open until August 21, 2017.
The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (Division) today announced it is launching a comprehensive review of the swap data reporting regulations found in Parts 43, 45, and 49 of the CFTC’s Regulations. As part of this review, the Division has opened a 40-day comment period to solicit input on this effort from all entities involved in swaps reporting. Comments must be received by August 21, 2017 The Division will focus on changes to the existing regulations and guidance with two goals at the forefront: (a) to ensure that the CFTC receives accurate, complete, and high quality data on swaps transactions for its regulatory oversight role; and (b) to streamline reporting, reduce messages that must be reported, and right-size the number of data elements that are reported to meet the agency’s priority use-cases for swaps data.