Open Meeting on Two Final Rules (Final Rules)
Open Meeting
CFTC Press Release 6157-11
The CFTC held a public meeting on, December 20, 2011 on the following topics:
(1) Final Rule on Real-Time Reporting of Swap Transaction Data; and
(2) Final Rule on Swap Data Recordkeeping and Reporting Requirements
A third rule on Effective Date for Swap Regulation was previously scheduled for consideration, but was approved in advance.
The CFTC unanimously approved both items on the agenda.
Highlights of the CFTC's actions include:
Real-Time Reporting of Swap Transaction Data
The final rules implement a framework for the real-time public reporting swap transaction and pricing data for all swap transactions.
Swap Data Recordkeeping and Reporting Requirements
The final rules implement the Dodd-Frank Act's new statutory framework regarding swap data recordkeeping and reporting requirements for all swap transactions.
Effective Date for Swap Regulation
The CFTC issued a Final Order regarding the effective date for swap regulation that extends the potential latest expiration date of the exemptive relief to July 16, 2012.
Links to the Commissioner's Opening Statements and the Chairman's Statements on Support of the Dodd-Frank Rulemakings and Additional Information (Fact Sheets and Questions and Answers related to each rulemaking) may be found by clicking the Open Meeting tab above.
Cross References: See rule releases immediately below.