CFTC Sets Effective Date for Final Rule on Swap Confirmation Requirements

The CFTC set an effective date of May 31, 2024 for a final rule amending its swap execution facility ("SEF") regulations related to uncleared swap confirmations. The final rule was published in the Federal Register.

The amendments codify no-action relief originally granted in CFTC Letter No. 17-17, make changes to CFTC Rule 37.6 ("Enforceability") and make conforming revisions to Rule 23.501 ("Swap Confirmation"). (See previous coverage.)