SEC, CFTC Seek Public Comment on Swap Data Rules
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- SEC and CFTC jointly issued a request for public comment on opportunities to harmonize, modernize, and streamline data reporting requirements for security-based swap and swap markets
- SEC's own press release frames the same request as aimed at further clarifying and harmonizing derivatives product definitions, per its headline — a different emphasis from the 'data reporting' framing in the original source
- The Block reports the request comes amid an ongoing CME lawsuit, suggesting the timing of the public comment process may be tied to that legal dispute over how swaps are defined
- CME is a named stakeholder in the broader story per cross-coverage, though the truncated source excerpt does not detail its specific role
Why it matters: Two federal market regulators are simultaneously soliciting public input on derivatives data reporting, a coordinated step that affects every entity required to report swaps data to both agencies and signals ongoing friction over duplicative compliance. The CME lawsuit context flagged by The Block indicates the regulators' push to clarify what counts as a swap carries legal stakes beyond routine rulemaking.
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