Federal Register:Swap Data Recordkeeping and Reporting Requirements

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Gavel.png FINAL RULE: This page refers to the proposed rulemaking on swap data rekordkeeping and reporting requirements. For a summary of the final rule, click here.
Dodd-Frank Timeline, Swap Data Recordkeeping and Reporting Requirements
Final Rule Issue Effective Date No-Action Relief, Part 43/45 No-Action Relief, Part 23
January 13, 2012 March 13, 2012 July 1, 2013 (IRS, CDS); Aug. 19 for other swaps June 30, 2013

On November 19, 2010, the Commodity Futures Trading Commission (CFTC) held its fifth in the series of open meetings to consider the issuance of proposed rulemakings under the Dodd-Frank Act. One of the agenda items was rule proposal regarding swap data recording and recordkeeping.<ref>Open Meeting on Fifth Series of Proposed Rules under the Dodd-Frank Act. CFTC. Retrieved on March 10, 2011.</ref>

The Proposal[edit]

The proposal will require:

  • Establishment of reporting and recordkeeping requirements and daily trading records requirements for swap dealers and major swap participants.
  • Swap dealers and major swap participants to ‘‘make such reports as are required by the Commission by rule or regulation regarding the transactions and positions and financial condition of the registered swap dealer or major swap participant.’’
  • Prescription of the books and records requirements of ‘‘all activities related to the business of swap dealers or major swap participants,’’
  • Daily maintenance of daily trading records of the swaps of the registered swap dealer and major swap participant and all related records, as well as a ‘‘complete audit trail for conducting comprehensive and accurate trade reconstructions.’’

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



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