Federal Register: Reporting, Recordkeeping, and Daily Trading Records Requirements for Swap Dealers and Major Swap Participants

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Gavel.png FINAL RULE: This page refers to the proposed rulemaking on reporting, recordkeeping, and daily trading records requirements. For a summary of the final rule click here.
Dodd-Frank Timeline, Reporting, Recordkeeping, and Daily Trading Records Requirements for Swap Dealers and Major Swap Participants
Final Rule Issue Effective Date No-action Relief, Valuation
April 3, 2012 June 4, 2012 June 30, 2014

The CFTC proposed rules on reporting, recordkeeping, public information and daily trading records requirements for swap dealers and major swap participants, at the December 1, 2010 Open Meeting. Specifically, swap dealers and major swap participants will be required to retain and submit:[1]

  • transaction and position information for all swap activities;
  • recordkeeping rules such as basic business records, minutes from the entity's governing body, audit reports, financial records, and records of all data submitted to swap data repositories'
  • daily trading execution records, including pre-and post-execution data, as well as any hedges or offsetting positions.

Also, swap dealers and major swap participants will be required to report in accordance with previous rule proposals on real-time reporting and general swap data rules from the November 19, 2010 Open Meeting.

Related Documents: Fact Sheet, Q&A, and Rule Proposal as it Appeared in the Federal Register

References

  1. Open Meeting on Sixth Series of Proposed Rules under the Dodd-Frank Act. CFTC. Retrieved on February 16, 2011.

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