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CFTC Rulemakings list


Final Rule: Reporting Certain Post-Enactment Swap Transactions

Final Rule: Reporting Certain Post-Enactment Swap Transactions

RIN: 3038–AD29

Agency/Agencies: CFTC

Federal Register Publication Date: 12/17/2010

Summary: The CFTC published for comment an interim final rule to implement new statutory provisions introduced by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (‘‘Dodd-Frank Act’’). Section 723 of the Dodd-Frank Act amends Section 2 of the Commodity Exchange Act (‘‘CEA’’ or the ‘‘Act’’) by adding new Section 2(h)(5)(B), which directs that rules adopted by the CFTC under this section shall provide for the reporting of ‘‘transition’’ swaps—that is, swaps entered into on or after the date of enactment of the Dodd-Frank Act and prior to the effective date of swap data reporting rules to implement Section 2(h)(5)(B)—to a registered swap data repository (‘‘SDR’’) or to the Commission. Each category of data is subject to a reporting timetable specified in Section 2(h)(5). In order to ensure the preservation of data pending implementation of such rules, the CFTC adopted an interim final rule directing specified counterparties to post-enactment, or transition, swap transactions entered into prior to the effective date of the swap data reporting and recordkeeping rules implementing Section 2(h)(5)(B) of the CEA to retain information pertaining to the terms of such swaps.

Ianthe Zabel
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