Update: CFTC Issues Final Rule to Amend Existing Swaps Regulation

The Commodity Futures Trading Commission (CFTC) today voted 5-0 to approve a rule that amends current swaps regulation. Specifically, the CFTC has amended “certain definitions and recordkeeping regulations” so that they apply to both futures and swaps.

“As an example, futures commission merchants (FCMs) and introducing brokers (IBs) will now be required to follow recordkeeping rules for swap transactions that are equivalent to those rules they presently follow for futures transactions,” a statement from the CFTC said.

The final rule becomes effective 60 days after publication in the Federal Register.

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