The CFTC and SEC are finally starting to work together on standardizing data, but how much compliance costs can be reduced depends on the final implementation. For now, we're waiting through a 60-day comment period.

Wu Shuo has learned that the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) are jointly seeking public comments on the data reporting framework for swap contracts and security-based swaps markets. The two agencies stated that they aim to unify and simplify existing reporting requirements to reduce compliance costs, improve data quality, and strengthen regulatory cooperation. The comment period will last for 60 days after the publication in the Federal Register.