The CFTC Division of Market Oversight granted time-limited no-action relief to certain market participants, who are eligible for an exemption from aggregation, from having to comply with notice filing and certification requirements.
The CFTC's Interest Rate Benchmark Reform Subcommittee recommended to the Market Risk Advisory Committee "that on July 26, 2021 and thereafter, interdealer brokers replace trading of LIBOR linear swaps with trading of SOFR [Secured Overnight Financing Rate] linear swaps."
In a petition to the CFTC, FIA and ISDA requested clarification on whether certain swaps meet the criteria to be considered economically equivalent swaps under the CFTC's position limits rule.
FIA submitted a comment letter questioning the value of certain compliance resource information required to be submitted as part of FCM and swap dealer CCO annual reports.
FIA President and CEO Walt Lukken asserted that a "great deal" of industry uncertainty is caused by the challenge of meeting post-crisis regulatory requirements.