Featured Product

    CFTC Consults on Rules on Swap Data Reporting Requirements in US

    April 17, 2020

    CFTC approved two proposed rules to revise its regulations for swap data reporting, dissemination, and public reporting requirements for market participants. Both the proposed rules have a ninety-day comment period that ends on May 20, 2020. CFTC also approved reopening the comment period of a proposed rule for 90 days to amend certain agency regulations related to swap data repositories. All three measures are intended to improve data quality and streamline CFTC regulations.

    Proposed Amendments to the Real-Time Public Reporting Requirements. CFTC is proposing revisions to the regulations setting forth real-time public reporting and dissemination requirements for swap data repositories, derivatives clearing organizations, swap execution facilities, designated contract markets, swap dealers, major swap participants, and swap counterparties that are neither swap dealers nor major swap participants. CFTC is also proposing revisions that, among other things, change the “block trade” definition, change the block swap categories, update the block thresholds and cap sizes, and adjust the delay for the public dissemination of block transactions. 

    Proposed Amendments to the Swap Data Recordkeeping and Reporting Requirements. CFTC is proposing revisions to the regulations that set forth the swap data recordkeeping and reporting requirements for swap data repositories, derivatives clearing organizations, swap execution facilities, designated contract markets, swap dealers, major swap participants, and swap counterparties that are neither swap dealers nor major swap participants. CFTC is proposing revisions that, among other things, streamline the requirements for reporting new swaps, define and adopt swap data elements that harmonize with international technical guidance, and reduce reporting burden for reporting counterparties that are not swap dealers or major swap participants.

    Reopening Comment Period for the Proposed Rule on Certain Swap Data Repository and Data Reporting Requirements. On May 13, 2019, CFTC had issued a proposed rule to amend certain regulations applicable to swap data repositories, reporting counterparties, and other market participants. The proposed amendments would, among other things, update requirements for swap data repositories to verify swap data with reporting counterparties, update requirements to correct swap data errors and omissions, and update and clarify certain swap data repository operational and governance requirements. The comment period for the proposed rule was originally scheduled to close on July 29, 2019. CFTC subsequently extended the comment period twice: once for 90 days to October 28, 2019 and then for another 90 days to January 27, 2020. CFTC is now reopening the comment period again for an additional 90 days, which will end on May 20, 2020.

     

    Related Links

    Comment Due Date: May 20, 2020

    Keywords: Americas, US, Banking, Securities, Reporting, Dodd-Frank Act, Swap Data, Swaps, CFTC

    Featured Experts
    Related Articles
    News

    APRA Updates Validation and Derivation Rules in September 2020

    APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.

    September 24, 2020 WebPage Regulatory News
    News

    EC Proposes Frameworks for Crypto-Assets and Operational Resilience

    EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.

    September 24, 2020 WebPage Regulatory News
    News

    ECB Publishes Opinion on Proposals to Amend Securitization Framework

    ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.

    September 24, 2020 WebPage Regulatory News
    News

    FCA Consults on Regulation of International Firms in UK

    FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.

    September 23, 2020 WebPage Regulatory News
    News

    MAS Amends Notice on Capital Adequacy Requirements of Banks

    MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.

    September 23, 2020 WebPage Regulatory News
    News

    FCA to Begin to Move Firms to New Data Collection Platform RegData

    FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.

    September 23, 2020 WebPage Regulatory News
    News

    ISDA Expects IBOR Fallbacks to be Effective by End of January 2021

    ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.

    September 23, 2020 WebPage Regulatory News
    News

    APRA Reviews Repayment Deferral Plans, Identifies Best Practices

    APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.

    September 22, 2020 WebPage Regulatory News
    News

    ESAs Assess Risks to Financial Sector After COVID-19 Outbreak

    ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.

    September 22, 2020 WebPage Regulatory News
    News

    BoE Confirms Withdrawal of COVID Corporate Financing Facility

    BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.

    September 22, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5836