Further Changes to Swap Data Reporting Compliance Dates Issued by CFTC | Practical Law

Further Changes to Swap Data Reporting Compliance Dates Issued by CFTC | Practical Law

On December 5, 2012, the CFTC's Division of Market Oversight issued temporary no-action relief to swap dealers delaying swap data reporting requirements for equity, foreign exchange and commodity swaps due to the effects of Hurricane Sandy.

Further Changes to Swap Data Reporting Compliance Dates Issued by CFTC

Practical Law Legal Update 7-523-0083 (Approx. 2 pages)

Further Changes to Swap Data Reporting Compliance Dates Issued by CFTC

by PLC Finance
Published on 06 Dec 2012 • USA (National/Federal)
On December 5, 2012, the CFTC's Division of Market Oversight issued temporary no-action relief to swap dealers delaying swap data reporting requirements for equity, foreign exchange and commodity swaps due to the effects of Hurricane Sandy.
On December 5, 2012, the CFTC's Division of Market Oversight issued No-action Letter 12-41, extending the date by which swap dealers (SDs) must comply with swap data reporting obligations for Compliance Date 2 Swaps. Compliance Date 2 Swaps are equity swaps, foreign exchange swaps and commodity swaps (referred to as "other commodity swaps").
The compliance date was extended to 12:01 a.m. Eastern Time:
  • On February 28, 2013 for swap data reporting obligations under final real-time swap data reporting rules (Part 43 of the CFTC's Regulations) and final "SDR" reporting rules (Part 45).
  • On March 30, 2013 for swap data reporting obligations under final historical swap data reporting rules (Part 46).
Data reporting for these swaps was originally required to begin for SD parties to such swaps on January 10, 2013.
For more information on swap data reporting, see: