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CFTC and SEC Seek Comment on Simplifying Swap Data-Reporting Rules

“Extensive data collection, if not appropriately calibrated, can hinder, rather than enhance, understanding and accountability. Working closely with the CFTC, we can ensure that we are collecting the data necessary to meet statutory objectives under a harmonized reporting regime."
Paul Atkins, SEC Chair
“Extensive data collection, if not appropriately calibrated, can hinder, rather than enhance, understanding and accountability. Working closely with the CFTC, we can ensure that we are collecting the data necessary to meet statutory objectives under a harmonized reporting regime."
Paul Atkins, SEC Chair

The CFTC and the SEC requested comment on potential changes to the design, scope, and structure of swap and security-based swap data reporting requirements.

In the joint request, published in the Federal Register, the regulators said they were aiming to simplify and harmonize a framework the agencies said had grown complex and at times produced low-quality data. The agencies said overly complex reporting may have unintentionally undermined the accuracy, completeness, and timeliness of reported data.

The agencies asked for input on (i) harmonization across frameworks, (ii) transparency and data quality, (iii) operational complexity, (iv) standardized identifiers and reference data, and (v) implementation considerations.

The request is part of the agencies' broader push to harmonize their oversight of derivatives. (See also, prior coverage here and here.)

Comments are due by August 24, 2026.

Primary Sources

  1. 91 FR 37877: Joint Request for Comment on Swap and Security-Based Swap Data Reporting

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Tags

Regulated Activities
Regulatory Oversight
Regulated Products
Swaps / SBS
Body of Law
CEA Regulation Securities Law
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets SEC
Sub-Author
CFTC