Mars Finance reports, citing Bloomberg, that the White House is reviewing an early proposal submitted by the U.S. SEC and CFTC to reconsider the re-review of swap (swaps) and security swap reporting requirements. The measure is currently in the pre-rule stage; after the two regulators solicit public input, they plan to formally draft regulatory details. Existing U.S. rules for swap and security swap reporting are not unified, and some current compliance exemption policies will expire in 2029. Last month, the International Swaps and Derivatives Association, along with the Securities Industry and Financial Markets Association, sent a joint letter urging regulators to unify data reporting standards for the two categories of products. ICE Trade Vault LLC also made a similar request at the same time. The CFTC said this work will be carried out jointly by the two agencies. In March, the SEC Chair has already arranged for personnel to build a unified reporting system; the new rules must go through two rounds of agency voting and a public consultation before taking effect.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

7 Likes

Reward
7
12
Repost
Share

Comment

Add a comment

WatercolorGlassBottle

· 3h ago

Current rules are fragmented, making cross-border transactions the biggest headache.

View OriginalReply0

ToBeHonest,You'llLose

· 4h ago

Securities swaps and swaps, a single character difference, mean vastly different regulatory implications

View OriginalReply0

GlassDomeObservatory

· 4h ago

The SEC Chair personally arranged for someone to coordinate, with the highest priority assigned.

View OriginalReply0

RugProofRita

· 4h ago

Building a unified system can significantly reduce compliance costs.

View OriginalReply0

LunaCircuit

· 4h ago

The standardization of swap reporting data is inconsistent, and settlement risk is indeed a hidden danger.

View OriginalReply0

PermissionedFury

· 4h ago

During the public consultation phase, organizations are probably going to submit materials frantically.

View OriginalReply0

GateUser-9ccf7051

· 4h ago

Is Bloomberg's timing of this news subtle, signaling a warning to the market?

View OriginalReply0

Low-PolyFloatingEarth

· 4h ago

ICE Trade Vault has expressed support, and market consensus is forming

View OriginalReply0

MempoolNomad

· 4h ago

From the pre-regulation stage to final implementation, there are still two rounds of voting, and the road is still long.

View OriginalReply0

NeonStreetReflections

· 4h ago

ISDA and SIFMA's lobbying efforts this time are powerful; industry voices have been heard.

View OriginalReply0

Trending Topics
View More
#
ShareYourUSStocksWinNvidia
23.9M Popularity
#
WinGoldBarsWithGrowthPoints
1.27M Popularity
#
NvidiaSurges6PercentToRecordHigh
2.86M Popularity
#
AnthropicFilesConfidentialIPO
476.91K Popularity
#
MicroStrategySells32Bitcoins
7.17M Popularity

Pinned

Sitemap

The White House reviews the early proposal by the U.S. SEC and CFTC to reconsider swap transaction reporting rules.

Trending Topics

ShareYourUSStocksWinNvidia

WinGoldBarsWithGrowthPoints

NvidiaSurges6PercentToRecordHigh

AnthropicFilesConfidentialIPO

MicroStrategySells32Bitcoins

Pinned