White House Reviews SEC and CFTC Proposal on Swaps Reporting Requirements

The White House is reviewing an early SEC and CFTC plan to revisit swaps and security-based swaps reporting rules, with public comments expected before formal rulemaking and some exemptions currently set to expire in 2029.

Summary

The White House is reviewing a pre-rule proposal from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission to reconsider reporting requirements for swaps and security-based swaps. The plan is still at an early stage, and public comments will be solicited before any formal rulemaking begins. The new information adds that some existing compliance exemptions are scheduled to expire in 2029, introducing a defined timeline element to the broader review of post-trade reporting obligations.

Terms & Concepts
  • Swaps reporting: The disclosure of data on swaps trades to regulators or reporting systems so authorities can monitor market activity and risk.
  • CFTC: Commodity Futures Trading Commission, the U.S. regulator that oversees derivatives markets including swaps and futures.
  • Security-based swaps: A type of swap whose value is linked to a single security or a narrow-based group of securities, generally overseen by the SEC.