Certain Swap Data Repository and Data Reporting Requirements

Résumé

The Commodity Futures Trading Commission ("Commission" or "CFTC") is amending its regulations to improve the accuracy of data reported to, and maintained by, swap data repositories ("SDRs"), and to provide enhanced and streamlined oversight over SDRs and data reporting generally. Among other changes, the amendments modify existing requirements for SDRs to establish policies and procedures to confirm the accuracy of swap data with both counterparties to a swap and require reporting counterparties to verify the accuracy of swap data pursuant to those SDR procedures. The amendments also update existing requirements related to corrections for data errors and certain provisions related to SDR governance.