{"description":"Documents matching 'security-based swap participants respectively collectively'","count":403,"total_pages":21,"next_page_url":"https://www.federalregister.gov/api/v1/documents?conditions%5Bterm%5D=security-based+swap+participants+respectively+collectively&format=json&page=2","results":[{"title":"Revisions to Business Conduct and Swap Documentation Requirements for Swap Dealers and Major Swap Participants","type":"Rule","abstract":"The Commodity Futures Trading Commission (\"CFTC\" or \"Commission\") is adopting a final rule (the \"Final Rule\") amending certain of the Commission's business conduct and documentation requirements applicable to swap dealers and major swap participants. The Final Rule provides exceptions to compliance with such requirements when executing swaps that are intended by the parties to be cleared contemporaneously with execution, or subject to prime broker arrangements that meet certain qualifying conditions, and makes certain other changes discussed herein. The adopted amendments supersede certain no-action positions issued by the Commission's Market Participants Division (\"MPD\"), which the Commission expects MPD to terminate in due course.","document_number":"2025-23953","html_url":"https://www.federalregister.gov/documents/2025/12/30/2025-23953/revisions-to-business-conduct-and-swap-documentation-requirements-for-swap-dealers-and-major-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-12-30/pdf/2025-23953.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-23953.pdf?1767015913","publication_date":"2025-12-30","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"“Security-Based <span class=\"match\">Swap</span> Dealer,” “Major <span class=\"match\">Swap</span> <span class=\"match\">Participant</span>,” “Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participant</span>” and “Eligible Contract <span class=\"match\">Participant</span>,” 77 FR 30596, 30610 n. 201 (May 23, 2012) (where the Commission stated by contrast, it may be appropriate, over time, to tailor the specific requirements imposed on <span class=\"match\">swap</span> dealers depending on the facility on which the <span class=\"match\">swap</span> dealer executes <span class=\"match\">swaps</span>. For example, the application of certain business conduct requirements may vary depending on how the <span class=\"match\">swap</span> is executed, and it may be appropriate, as the <span class=\"match\">swap</span> markets evolve, to consider"},{"title":"Revisions to Business Conduct and Swap Documentation Requirements for Swap Dealers and Major Swap Participants","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"CFTC\" or \"Commission\") is proposing amendments to certain of the Commission's business conduct and documentation requirements applicable to swap dealers and major swap participants. These amendments would provide exceptions to compliance with such requirements when executing swaps that are: intended by the parties to be cleared contemporaneously with execution; or subject to prime broker arrangements that meet certain qualifying conditions. The proposed amendments would also make certain other changes discussed herein. The proposed amendments, if adopted, would supersede certain no-action positions issued by the Commission's Market Participants Division (\"MPD\").","document_number":"2025-18924","html_url":"https://www.federalregister.gov/documents/2025/09/30/2025-18924/revisions-to-business-conduct-and-swap-documentation-requirements-for-swap-dealers-and-major-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-09-30/pdf/2025-18924.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-18924.pdf?1759149912","publication_date":"2025-09-30","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"also \n Further Definition of “<span class=\"match\">Swap</span> Dealer,” “<span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealer,” “Major <span class=\"match\">Swap</span> <span class=\"match\">Participant</span>,” “Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participant</span>” and “Eligible Contract <span class=\"match\">Participant</span>,” 77 FR 30596, 30610 n. 201 (May 23, 2012) (where the Commission stated “[b]y contrast, it may be appropriate, over time, to tailor the specific requirements imposed on <span class=\"match\">swap</span> dealers depending on the facility on which the <span class=\"match\">swap</span> dealer executes <span class=\"match\">swaps</span>. For example, the application of certain business conduct requirements may vary depending on how the <span class=\"match\">swap</span> is executed, and it may be"},{"title":"Joint Request for Comment on Swap and Security-Based Swap Data Reporting","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"CFTC\") and the Securities and Exchange Commission (\"SEC\") (together, the \"Commissions\") request public comment on potential changes to the design, scope, and structure of swap and security-based swap data reporting requirements.","document_number":"2026-12742","html_url":"https://www.federalregister.gov/documents/2026/06/24/2026-12742/joint-request-for-comment-on-swap-and-security-based-swap-data-reporting","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-06-24/pdf/2026-12742.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-12742.pdf?1782218724","publication_date":"2026-06-24","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"},{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"definition of the term “eligible contract <span class=\"match\">participant</span>” in the Securities Act of 1933 (“Securities Act”) refers to the definition of “eligible contract <span class=\"match\">participant</span>” in the CEA. \n See \n section 5(e) of the Securities Act, 15 U.S.C. 77e(e). The CFTC and SEC have adopted final rules further defining the term “eligible contract <span class=\"match\">participant</span>.” \n See \n Further Definition of “<span class=\"match\">Swap</span> Dealer,” “<span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealer,” “Major <span class=\"match\">Swap</span> <span class=\"match\">Participant</span>,” “Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participant</span>” and “Eligible Contract <span class=\"match\">Participant</span>,” Release No. 34-66868 (Apr. 27, 2012)"},{"title":"Agency Information Collection Activities: Information Collection Renewal; Comment Request; Margin and Capital Requirements for Covered Swap Entities","type":"Notice","abstract":"The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, \"Margin and Capital Requirements for Covered Swap Entities.\"","document_number":"2026-04936","html_url":"https://www.federalregister.gov/documents/2026/03/13/2026-04936/agency-information-collection-activities-information-collection-renewal-comment-request-margin-and","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-03-13/pdf/2026-04936.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-04936.pdf?1773319513","publication_date":"2026-03-13","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Office of the Comptroller of the Currency","name":"Comptroller of the Currency","id":80,"url":"https://www.federalregister.gov/agencies/comptroller-of-the-currency","json_url":"https://www.federalregister.gov/api/v1/agencies/80","parent_id":497,"slug":"comptroller-of-the-currency"}],"excerpts":"dealers and major <span class=\"match\">security-based</span> <span class=\"match\">swap</span> <span class=\"match\">participants</span>, <span class=\"match\">respectively</span> (<span class=\"match\">collectively</span>, “<span class=\"match\">swap</span> entities”). For certain types of <span class=\"match\">swap</span> entities that are prudentially regulated by one of the Agencies,\n 1 \n \n sections 731 and 764 of the Dodd-Frank Act require the Agencies to jointly adopt rules, for the entities under their respective jurisdictions, imposing capital requirements and initial and variation margin requirements on all non-cleared <span class=\"match\">swaps</span>. <span class=\"match\">Swap</span> entities that are prudentially regulated by the Agencies are referred to herein as “covered <span class=\"match\">swap</span> entities.” OCC's"},{"title":"Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Margin and Capital Requirements for Covered Swap Entities","type":"Notice","abstract":"The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, \"Margin and Capital Requirements for Covered Swap Entities.\" The OCC also is giving notice that it has sent the collection to OMB for review.","document_number":"2026-10048","html_url":"https://www.federalregister.gov/documents/2026/05/20/2026-10048/agency-information-collection-activities-information-collection-renewal-submission-for-omb-review","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-05-20/pdf/2026-10048.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-10048.pdf?1779194708","publication_date":"2026-05-20","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Office of the Comptroller of the Currency","name":"Comptroller of the Currency","id":80,"url":"https://www.federalregister.gov/agencies/comptroller-of-the-currency","json_url":"https://www.federalregister.gov/api/v1/agencies/80","parent_id":497,"slug":"comptroller-of-the-currency"}],"excerpts":"dealers and major <span class=\"match\">security-based</span> <span class=\"match\">swap</span> <span class=\"match\">participants</span>, <span class=\"match\">respectively</span> (<span class=\"match\">collectively</span>, “<span class=\"match\">swap</span> entities”). For certain types of <span class=\"match\">swap</span> entities that are prudentially regulated by one of the Agencies,\n 1 \n \n sections 731 and 764 of the \n \n Dodd-Frank Act require the Agencies to jointly adopt rules, for the entities under their respective jurisdictions, imposing capital requirements and initial and variation margin requirements on all non-cleared <span class=\"match\">swaps</span>. <span class=\"match\">Swap</span> entities that are prudentially regulated by the Agencies are referred to herein as “covered <span class=\"match\">swap</span> entities.”"},{"title":"Capital and Financial Reporting Requirements for Swap Dealers and Major Swap Participants","type":"Rule","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") is adopting amendments to certain of the Commission's regulations that impose minimum capital requirements and financial reporting obligations on swap dealers (\"SDs\") and major swap participants (\"MSPs\"). The Commission is adopting amendments consistent with previously issued staff letters addressing the Tangible Net Worth Capital Approach for calculating capital under the applicable Commission regulation and alternative financial reporting by SDs subject to the capital requirements of a prudential regulator. The Commission is also adopting amendments to certain of its regulations applicable to SDs, in areas including the required timing of certain notifications, the process for approval of subordinated debt for capital, and the revision of financial reporting forms to conform to the rules. The amendments are intended to facilitate SDs' compliance with the Commission's financial reporting obligations and minimum capital requirements.","document_number":"2024-10342","html_url":"https://www.federalregister.gov/documents/2024/05/23/2024-10342/capital-and-financial-reporting-requirements-for-swap-dealers-and-major-swap-participants","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-05-23/pdf/2024-10342.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-10342.pdf?1716381913","publication_date":"2024-05-23","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"98 \n  IIB/ISDA/SIFMA Letter at 5.\n \n \n \n \n 99 \n  \n Id. See \n SEC, Division of Trading and Markets letter on Financial Reporting requirements for <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span> (Oct. 27, 2021) and Order Specifying the Manner and Format of Filing Unaudited Financial and Operational Information by <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span> That Are Not U.S. Persons and Are Relying on Substituted Compliance Determinations With Respect to Rule 18a-7, 86 FR 59208 (Oct. 26, 2021) at 59210"},{"title":"Order Granting Conditional Substituted Compliance in Connection With Certain Capital and Financial Reporting Requirements Applicable to a Nonbank Swap Dealer Domiciled in the French Republic and Subject to the European Union's Investment Firms Regulation and Investment Firms Directive","type":"Rule","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") is issuing an order regarding an application submitted by Goldman Sachs Paris Inc. et Cie requesting that the Commission determine that the capital and financial reporting laws and regulations of the European Union applicable to a CFTC-registered swap dealer, which is organized and domiciled in the French Republic and subject to the Investment Firms Regulation (EU) 2019/2033 (\"IFR\") and Investment Firms Directive (EU) 2019/2034 (\"IFD\") legislative package, provide sufficient bases for an affirmative finding of comparability with respect to the Commission's swap dealer capital and financial reporting requirements adopted under the Commodity Exchange Act. The order provides that a nonbank swap dealer organized and domiciled in the French Republic and subject to the IFR and IFD legislative package may satisfy the capital requirements and the financial reporting rules under the applicable provisions of the Commodity Exchange Act and Commission regulations by complying with certain specified European Union laws and regulations and conditions set forth in the order.","document_number":"2026-09693","html_url":"https://www.federalregister.gov/documents/2026/05/14/2026-09693/order-granting-conditional-substituted-compliance-in-connection-with-certain-capital-and-financial","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-05-14/pdf/2026-09693.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-09693.pdf?1778676326","publication_date":"2026-05-14","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"the Commission.\n 336 \n \n A nonbank SD also is required to provide notice if the firm fails to post or collect initial margin for uncleared <span class=\"match\">swap</span> and non-cleared <span class=\"match\">security-based</span> <span class=\"match\">swap</span> transactions or exchange variation margin for uncleared <span class=\"match\">swap</span> or non-cleared <span class=\"match\">security-based</span> <span class=\"match\">swap</span> transactions as required by the Commission's uncleared <span class=\"match\">swaps</span> margin rules or the SEC's non-cleared <span class=\"match\">security-based</span> margin rules, <span class=\"match\">respectively</span>, if the aggregate is equal to or greater than: (i) 25 percent of the nonbank SD's required capital under Commission Regulation 23.101 calculated"},{"title":"Capital and Financial Reporting Requirements for Swap Dealers and Major Swap Participants","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") proposes to amend certain of the Commission's regulations that impose minimum capital requirements and financial reporting obligations on swap dealers (\"SDs\") and major swap participants (\"MSPs\"). The Commission proposes to do this by codifying parts of staff interpretive letter 21-15 to SDs addressing the Tangible Net Worth Capital Approach for calculating capital under the applicable Commission regulation and no-action letter 21-18 (and its successor no- action letter 23-11) regarding alternative financial reporting by SDs subject to the capital requirements of a prudential regulator (together, \"CFTC Letters\"). The Commission is also proposing to amend certain of its regulations applicable to SDs, in areas including the required timing of certain notifications, the process for approval of subordinated debt for capital, and the revision of financial reporting forms to conform to the rules. The proposed amendments are intended to make it easier for SDs to comply with the Commission's financial reporting obligations and demonstrate compliance with minimum capital requirements.","document_number":"2023-28649","html_url":"https://www.federalregister.gov/documents/2024/01/16/2023-28649/capital-and-financial-reporting-requirements-for-swap-dealers-and-major-swap-participants","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-01-16/pdf/2023-28649.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-28649.pdf?1704980714","publication_date":"2024-01-16","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Requirements of <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, 76 FR 27802 (May 12, 2011).\n \n \n \n \n 6 \n  Capital Requirements of <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, 81 FR 91252 (Dec. 16, 2016) (the “2016 Capital Proposal”).\n \n \n \n \n 7 \n  The comment letters for the \n 2016 Capital Proposal \n are available at \n https://comments.cftc.gov/PublicComments/CommentList.aspx?id=1769 \n (the public comment file).\n \n \n \n \n 8 \n  Capital, Margin and Segregation Requirements for <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span> and Capital and"},{"title":"Electronic Submission of Certain Materials Under the Securities Exchange Act of 1934; Amendments Regarding the FOCUS Report","type":"Rule","abstract":"The Securities and Exchange Commission (\"Commission\" or \"SEC\") is amending its rules to require electronic filing or submission of certain forms and other filings or submissions that are required to be filed with or submitted to the Commission under the Securities Exchange Act of 1934 (\"Exchange Act\") and the rules and regulations under the Exchange Act. The amendments require the electronic filing or submission on the Commission's Electronic Data Gathering, Analysis, and Retrieval (\"EDGAR\") system, using structured data where appropriate, for certain forms filed or submitted by self- regulatory organizations (\"SROs\"). The amendments require the information currently contained in Form 19b-4(e) to be publicly posted on the SRO's website and remove the manual signature requirements for SRO proposed rule change filings. The Commission is also requiring that a clearing agency post supplemental material to its website. In addition, the Commission is amending rules under the Exchange Act and the Securities Act of 1933 (\"Securities Act\") to require the electronic filing or submission on EDGAR, using structured data where appropriate, of certain forms, reports, and notices provided by broker- dealers, security-based swap dealers, and major security-based swap participants. The amendments also require withdrawal in certain circumstances of notices filed in connection with an exception to counting certain dealing transactions toward determining whether a person is a security-based swap dealer. Finally, the Commission is allowing electronic signatures in certain broker-dealer filings, and amending the Financial and Operational Combined Uniform Single Report (\"FOCUS Report\") to harmonize with other rules, make technical corrections, and provide clarifications.","document_number":"2024-30433","html_url":"https://www.federalregister.gov/documents/2025/01/21/2024-30433/electronic-submission-of-certain-materials-under-the-securities-exchange-act-of-1934-amendments","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-01-21/pdf/2024-30433.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-30433.pdf?1737121512","publication_date":"2025-01-21","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"\n Registration Process for <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, Exchange Act Release No. 75611 (Aug. 5, 2015), 80 FR 48964, 48990 (Aug. 14, 2015). \n See also \n Risk Mitigation Adopting Release, 85 FR at 6383; Trade Acknowledgment and Verification of <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Transactions, Exchange Act Release No. 78011 (June 8, 2016), 81 FR 39807, 39830 (June 17, 2016); Capital, Margin, and Segregation Requirements for <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span> and Capital and Segregation"},{"title":"Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (CFTC or Commission) is proposing to require that futures commission merchants, swap dealers, and major swap participants establish, document, implement, and maintain an Operational Resilience Framework reasonably designed to identify, monitor, manage, and assess risks relating to information and technology security, third-party relationships, and emergencies or other significant disruptions to normal business operations. The framework would include three components--an information and technology security program, a third-party relationship program, and a business continuity and disaster recovery plan--supported by broad requirements relating to governance, training, testing, and recordkeeping. The proposed rule would also require certain notifications to the Commission and customers or counterparties. The Commission is further proposing guidance relating to the management of risks stemming from third-party relationships.","document_number":"2023-28745","html_url":"https://www.federalregister.gov/documents/2024/01/24/2023-28745/operational-resilience-framework-for-futures-commission-merchants-swap-dealers-and-major-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-01-24/pdf/2023-28745.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-28745.pdf?1706017512","publication_date":"2024-01-24","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"broker-dealers and <span class=\"match\">security-based</span> <span class=\"match\">swap</span> dealers. \n See, e.g. \n Cybersecurity Risk Management Rule for Broker-Dealers, Clearing Agencies, Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, the Municipal Securities Rulemaking Board, National Securities Associations, National Securities Exchanges, <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Data Repositories, <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers, and Transfer Agents, 88 FR 20212, sections IV.C.1.b.i and IV.C.1.b.iii (Apr. 5, 2023).\n \n \n \n \n 51 \n  \n See \n 7 U.S.C. 5.\n \n \n \n The Commission is proposing to codify the ORF rule for <span class=\"match\">swap</span> entities in existing"},{"title":"Security-Based Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities","type":"Rule","abstract":"The Securities and Exchange Commission (\"SEC\" or \"Commission\") is adopting a set of rules and forms under the Securities Exchange Act of 1934 (\"SEA\") that would create a regime for the registration and regulation of security-based swap execution facilities (\"SBSEFs\") and address other issues relating to security- based swap (\"SBS\") execution generally. One of the rules being adopted implements an element of the Dodd-Frank Act that is intended to mitigate conflicts of interest at SBSEFs and national securities exchanges that trade SBS (\"SBS exchanges\"). Other rules being adopted address the cross-border application of the SEA's trading venue registration requirements and the trade execution requirement for SBS. In addition, the Commission is amending an existing rule to exempt, from the SEA definition of \"exchange,\" certain registered clearing agencies, as well as registered SBSEFs that provide a market place only for SBS. The Commission is also adopting a new rule that, while affirming that an SBSEF would be a broker under the SEA, exempts a registered SBSEF from certain broker requirements. Further, the Commission is adopting certain new rules and amendments to its Rules of Practice to allow persons who are aggrieved by certain actions by an SBSEF to apply for review by the Commission. Finally, the Commission is delegating new authority to the Director of the Division of Trading and Markets and to the General Counsel to take actions necessary to carry out the rules being adopted.","document_number":"2023-24587","html_url":"https://www.federalregister.gov/documents/2023/12/15/2023-24587/security-based-swap-execution-and-registration-and-regulation-of-security-based-swap-execution","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-12-15/pdf/2023-24587.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-24587.pdf?1702561517","publication_date":"2023-12-15","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"context is appropriate for the underlying aims of the Dodd-Frank Act.\n \n \n \n 99 \n  \n See \n Registration Process for <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, SEA Release No. 75611 (Aug. 5, 2015), 80 FR 48963 (Aug. 14, 2015) (“SBSD and MSBSP Registration Release”).\n \n \n \n \n 100 \n  \n See \n Capital, Margin, and Segregation Requirements for <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span> and Capital and Segregation Requirements for Broker-Dealers, SEA Release No. 86175 (June 21, 2019), 84 FR 43872 (Aug"},{"title":"Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") is proposing to amend the margin requirements for uncleared swaps applicable to swap dealers (\"SDs\") and major swap participants (\"MSPs\") for which there is no prudential regulator. The proposed amendment would revise the definition of \"margin affiliate\" to provide that certain collective investment vehicles (\"investment funds\" or \"funds\") that receive all of their start-up capital, or a portion thereof, from a sponsor entity (\"seeded funds\") would be deemed not to have any margin affiliates for the purposes of calculating certain thresholds that trigger the requirement to exchange initial margin (\"IM\") for uncleared swaps. This proposed amendment (\"Seeded Funds Proposal\") would effectively relieve SDs and MSPs from the requirement to post and collect IM with certain eligible seeded funds for their uncleared swaps for a period of three years from the date on which the eligible seeded fund's asset manager first begins making investments on behalf of the fund (\"trading inception date\"). The Commission is also proposing to eliminate a provision disqualifying the securities issued by certain pooled investment funds (\"money market and similar funds\") that transfer their assets through securities lending, securities borrowing, repurchase agreements, reverse repurchase agreements, and similar arrangements from being used as eligible IM collateral, thereby expanding the scope of assets that qualify as eligible collateral (\"Money Market Funds Proposal\"). Additionally, the Commission is proposing an amendment to the haircut schedule set forth in a Commission Regulation to add a footnote that was inadvertently omitted when the rule was originally promulgated.","document_number":"2023-16572","html_url":"https://www.federalregister.gov/documents/2023/08/08/2023-16572/margin-requirements-for-uncleared-swaps-for-swap-dealers-and-major-swap-participants","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-08-08/pdf/2023-16572.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-16572.pdf?1691412318","publication_date":"2023-08-08","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"1a(47), 7 U.S.C. 1a(47) (<span class=\"match\">swap</span> definition); Commission Regulation 1.3, 17 CFR 1.3 (further definition of a <span class=\"match\">swap</span>). A <span class=\"match\">swap</span> includes, among other things, an interest rate <span class=\"match\">swap</span>, commodity <span class=\"match\">swap</span>, credit default <span class=\"match\">swap</span>, and currency <span class=\"match\">swap</span>.\n \n \n \n \n 4 \n  CEA section 1a(49), 7 U.S.C. 1a(49) (<span class=\"match\">swap</span> dealer definition); Commission Regulation 1.3 (further definition of <span class=\"match\">swap</span> dealer).\n \n \n \n \n 5 \n  CEA section 1a(32), 7 U.S.C. 1a(32) (major <span class=\"match\">swap</span> <span class=\"match\">participant</span> definition); Commission Regulation 1.3 (further definition of major <span class=\"match\">swap</span> <span class=\"match\">participant</span>).\n \n \n \n \n 6 \n  CEA section"},{"title":"Order Granting Conditional Substituted Compliance in Connection With Certain Capital and Financial Reporting Requirements Applicable to Nonbank Swap Dealers Domiciled in the French Republic and Federal Republic of Germany and Subject to Regulation in the European Union","type":"Rule","abstract":"On June 27, 2023, the Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") issued a notice and request for comment on an application submitted by the Institute of International Bankers, International Swaps and Derivatives Association, and Securities Industry and Financial Markets Association requesting that the Commission determine that registered nonbank swap dealers organized and domiciled within the European Union may comply with certain capital and financial reporting requirements under the Commodity Exchange Act and Commission regulations by being subject to, and complying with, corresponding capital and financial reporting requirements of the European Union. The Commission also solicited public comment on a proposed comparability determination and related order providing for the conditional availability of substituted compliance in connection with the application. The Commission is adopting the proposed order with certain modifications and clarifications to address comments. The final order provides that a nonbank swap dealer organized and domiciled in the French Republic or the Federal Republic of Germany may satisfy the capital requirements and the financial reporting rules under the applicable provisions of the Commodity Exchange Act and Commission regulations by complying with certain specified EU laws and regulations and conditions set forth in the order.","document_number":"2024-15095","html_url":"https://www.federalregister.gov/documents/2024/07/18/2024-15095/order-granting-conditional-substituted-compliance-in-connection-with-certain-capital-and-financial","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-07-18/pdf/2024-15095.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-15095.pdf?1721220314","publication_date":"2024-07-18","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Covered <span class=\"match\">Swap</span> Entities, \n 80 FR 74840 (Nov. 30, 2015).\n \n \n \n \n 10 \n  \n Margin Requirements for Uncleared <span class=\"match\">Swaps</span> for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 81 FR 636 (Jan. 6, 2016).\n \n \n \n \n 11 \n  \n Capital Requirements of <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 85 FR 57462 (Sept. 15, 2020). On April 30, 2024, the Commission amended the capital and financial reporting requirements to revise certain financial reporting obligations, among other changes. \n See Capital and Financial Reporting Requirements for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> Participants"},{"title":"Order Granting Conditional Substituted Compliance in Connection With Certain Capital and Financial Reporting Requirements Applicable to Nonbank Swap Dealers Subject to Regulation by the United Kingdom Prudential Regulation Authority","type":"Rule","abstract":"On February 5, 2024, the Commodity Futures Trading Commission issued a notice and request for comment on an application submitted by the Institute of International Bankers, International Swaps and Derivatives Association, and Securities Industry and Financial Markets Association requesting that the Commission determine that registered nonbank swap dealers organized and domiciled in the United Kingdom may comply with certain capital and financial reporting requirements under the Commodity Exchange Act and Commission regulations by being subject to, and complying with, corresponding capital and financial reporting requirements of the United Kingdom Prudential Regulation Authority. The Commission also solicited public comment on a proposed comparability determination and related order providing for the conditional availability of substituted compliance in connection with the application. The Commission is adopting the proposed order with certain modifications and clarifications to address comments. The final order provides that a nonbank swap dealer organized and domiciled in the United Kingdom may satisfy the capital requirements under the Commodity Exchange Act and Commission applicable Commission regulations and the financial reporting rules under the Commodity Exchange Act and applicable Commission regulations by complying with certain specified United Kingdom laws and regulations and conditions set forth in the order.","document_number":"2024-15094","html_url":"https://www.federalregister.gov/documents/2024/07/18/2024-15094/order-granting-conditional-substituted-compliance-in-connection-with-certain-capital-and-financial","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-07-18/pdf/2024-15094.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-15094.pdf?1721220314","publication_date":"2024-07-18","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Covered <span class=\"match\">Swap</span> Entities, \n 80 FR 74840 (Nov. 30, 2015).\n \n \n \n \n 10 \n  \n Margin Requirements for Uncleared <span class=\"match\">Swaps</span> for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 81 FR 636 (Jan. 6, 2016).\n \n \n \n \n 11 \n  \n Capital Requirements of <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 85 FR 57462 (Sept. 15, 2020). On April 30, 2024, the Commission amended the capital and financial reporting requirements to revise certain financial reporting obligations, among other changes. \n See Capital and Financial Reporting Requirements for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> Participants"},{"title":"Order Granting Conditional Substituted Compliance in Connection With Certain Capital and Financial Reporting Requirements Applicable to Nonbank Swap Dealers Subject to Regulation by the Financial Services Agency of Japan","type":"Rule","abstract":"On August 8, 2022, the Commodity Futures Trading Commission issued a notice and request for comment on an application submitted by the Financial Services Agency of Japan requesting that the Commission determine that registered nonbank swap dealers organized and domiciled in Japan may comply with certain capital and financial reporting requirements under the Commodity Exchange Act and Commission regulations by being subject to, and complying with, corresponding capital and financial reporting requirements of Japan. The Commission also solicited public comment on a proposed comparability determination and related order providing for the conditional availability of substituted compliance in connection with the application. The Commission is adopting the proposed order with certain modifications and clarifications to address comments. The final order provides that a nonbank swap dealer organized and domiciled in Japan may satisfy the capital requirements under the Commodity Exchange Act and applicable Commission regulations and the financial reporting rules under the Commodity Exchange Act and applicable Commission regulations by complying with certain specified Japanese laws and regulations and conditions set forth in the order.","document_number":"2024-15092","html_url":"https://www.federalregister.gov/documents/2024/07/18/2024-15092/order-granting-conditional-substituted-compliance-in-connection-with-certain-capital-and-financial","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-07-18/pdf/2024-15092.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-15092.pdf?1721220314","publication_date":"2024-07-18","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Covered <span class=\"match\">Swap</span> Entities, \n 80 FR 74840 (Nov. 30, 2015).\n \n \n \n \n 10 \n  \n Margin Requirements for Uncleared <span class=\"match\">Swaps</span> for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 81 FR 636 (Jan. 6, 2016).\n \n \n \n \n 11 \n  \n Capital Requirements of <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 85 FR 57462 (Sept. 15, 2020). On April 30, 2024, the Commission amended the capital and financial reporting requirements to revise certain financial reporting obligations, among other changes. \n See Capital and Financial Reporting Requirements for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> Participants"},{"title":"Order Granting Conditional Substituted Compliance in Connection With Certain Capital and Financial Reporting Requirements Applicable to Nonbank Swap Dealer Subject to Regulation by the Mexican Comision Nacional Bancaria y de Valores and Banco de Mexico","type":"Rule","abstract":"On December 13, 2022, the Commodity Futures Trading Commission (\"Commission\" or \"CFTC\") published in the Federal Register a notice and request for comment on an application submitted by Morgan Stanley Mexico, Casa de Bolsa, S.A. de C.V., Goldman Sachs Mexico, Casa de Bolsa, S.A. de C.V., and Casa de Bolsa Finamex, S.A. de C.V. requesting that the Commission determine that CFTC-registered nonbank swap dealers organized and domiciled in Mexico may comply with certain capital and financial reporting requirements under the Commodity Exchange Act and Commission regulations by being subject to, and complying with, corresponding capital and financial reporting requirements of Mexico. The Commission also solicited public comment on a proposed order providing for the conditional availability of substituted compliance in connection with the application. The Commission is adopting the proposed order with certain modifications and clarifications to address comments received. The final order provides that a nonbank swap dealer organized and domiciled in Mexico may satisfy the capital requirements and financial reporting rules under the applicable provisions of the Commodity Exchange Act and Commission regulations by complying with certain specified Mexican laws and regulations and conditions set forth in the order.","document_number":"2024-15093","html_url":"https://www.federalregister.gov/documents/2024/07/18/2024-15093/order-granting-conditional-substituted-compliance-in-connection-with-certain-capital-and-financial","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-07-18/pdf/2024-15093.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-15093.pdf?1721220314","publication_date":"2024-07-18","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Covered <span class=\"match\">Swap</span> Entities, \n 80 FR 74840 (Nov. 30, 2015).\n \n \n \n \n 10 \n  \n Margin Requirements for Uncleared <span class=\"match\">Swaps</span> for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 81 FR 636 (Jan. 6, 2016).\n \n \n \n \n 11 \n  \n Capital Requirements of <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n 85 FR 57462 (Sept. 15, 2020). On April 30, 2024, the Commission amended the capital and financial reporting requirements to revise certain financial reporting obligations, among other changes. \n See Capital and Financial Reporting Requirements for <span class=\"match\">Swap</span> Dealers and Major <span class=\"match\">Swap</span> Participants"},{"title":"Joint Request for Comment on Further Implementation of Portfolio Margining and Cross-Margining of Securities and Derivatives","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission (\"CFTC\") and the Securities and Exchange Commission (\"SEC\") (together, the \"Commissions\") request public comment on potential ways to further implement portfolio and cross-margining of securities and derivatives that are subject to the jurisdiction of either the SEC or CFTC, or both Commissions.","document_number":"2026-13182","html_url":"https://www.federalregister.gov/documents/2026/06/30/2026-13182/joint-request-for-comment-on-further-implementation-of-portfolio-margining-and-cross-margining-of","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-06-30/pdf/2026-13182.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-13182.pdf?1782737118","publication_date":"2026-06-30","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"},{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"of uncleared <span class=\"match\">swaps</span> and <span class=\"match\">security-based</span> <span class=\"match\">swaps</span> in a securities account, <span class=\"match\">security-based</span> <span class=\"match\">swap</span> account or <span class=\"match\">swap</span> account.\n 12 \n \n Since that time, market <span class=\"match\">participants</span> and the Commissions have gained experience in the margining of both cleared and uncleared <span class=\"match\">swaps</span> and <span class=\"match\">security-based</span> <span class=\"match\">swaps</span>.\n 13 \n \n \n \n \n 12 \n  CFTC &amp; SEC, \n Portfolio Margining of Uncleared <span class=\"match\">Swaps</span> and Non-Cleared <span class=\"match\">Security-Based</span> <span class=\"match\">Swaps</span>, \n Exchange Act Release No. 90246 (Oct. 22, 2020), 85 FR 70536 (Nov. 5, 2020).\n \n \n \n \n 13 \n  The SEC's margin rules for <span class=\"match\">security-based</span> <span class=\"match\">swaps</span> refer to non-cleared"},{"title":"Cybersecurity Risk Management Rule for Broker-Dealers, Clearing Agencies, Major Security-Based Swap Participants, the Municipal Securities Rulemaking Board, National Securities Associations, National Securities Exchanges, Security-Based Swap Data Repositories, Security-Based Swap Dealers, and Transfer Agents","type":"Proposed Rule","abstract":"The Securities and Exchange Commission (\"Commission\") is proposing a new rule and form and amendments to existing recordkeeping rules to require broker-dealers, clearing agencies, major security- based swap participants, the Municipal Securities Rulemaking Board, national securities associations, national securities exchanges, security-based swap data repositories, security-based swap dealers, and transfer agents to address cybersecurity risks through policies and procedures, immediate notification to the Commission of the occurrence of a significant cybersecurity incident and, as applicable, reporting detailed information to the Commission about a significant cybersecurity incident, and public disclosures that would improve transparency with respect to cybersecurity risks and significant cybersecurity incidents. In addition, the Commission is proposing amendments to existing clearing agency exemption orders to require the retention of records that would need to be made under the proposed cybersecurity requirements. Finally, the Commission is proposing amendments to address the potential availability to security-based swap dealers and major security-based swap participants of substituted compliance in connection with those requirements.","document_number":"2023-05767","html_url":"https://www.federalregister.gov/documents/2023/04/05/2023-05767/cybersecurity-risk-management-rule-for-broker-dealers-clearing-agencies-major-security-based-swap","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-04-05/pdf/2023-05767.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-05767.pdf?1680612314","publication_date":"2023-04-05","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"U.S. <span class=\"match\">security-based</span> <span class=\"match\">swap</span> market given the concentration of dealers in this market. Further, a disruption in the <span class=\"match\">security-based</span> <span class=\"match\">swap</span> market could negatively impact the broader securities markets by, for example, causing <span class=\"match\">participants</span> to liquidate positions related to, or referenced by, the impacted <span class=\"match\">security-based</span> <span class=\"match\">swaps</span> to mitigate losses to <span class=\"match\">participants</span>' positions or portfolios or due to loss of trading confidence. A disruption in the <span class=\"match\">security-based</span> <span class=\"match\">swap</span> market also could negatively impact the broader securities markets by causing <span class=\"match\">participants</span> to liquidate"},{"title":"Notice of Proposed Order and Request for Comment on an Application for a Capital Comparability Determination Submitted on Behalf of Nonbank Swap Dealers Subject to Capital and Financial Reporting Requirements of the United Kingdom and Regulated by the United Kingdom Prudential Regulation Authority","type":"Proposed Rule","abstract":"The Commodity Futures Trading Commission is soliciting public comment on an application submitted by the Institute of International Bankers, International Swaps and Derivatives Association, and Securities Industry and Financial Markets Association requesting that the Commission determine that the capital and financial reporting laws and regulations of the United Kingdom applicable to CFTC-registered swap dealers organized and domiciled in the United Kingdom, which are licensed under the United Kingdom Financial Services and Markets Act 2000 as investment firms and designated for prudential supervision by the United Kingdom Prudential Regulation Authority, provide sufficient bases for an affirmative finding of comparability with respect to the Commission's swap dealer capital and financial reporting requirements adopted under the Commodity Exchange Act. The Commission is also soliciting public comment on a proposed order providing for the conditional availability of substituted compliance in connection with the application.","document_number":"2024-02070","html_url":"https://www.federalregister.gov/documents/2024/02/05/2024-02070/notice-of-proposed-order-and-request-for-comment-on-an-application-for-a-capital-comparability","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-02-05/pdf/2024-02070.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-02070.pdf?1706881512","publication_date":"2024-02-05","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Commission.\n 339 \n \n A nonbank SD also is required to provide notice if the firm fails to post or collect initial margin for uncleared <span class=\"match\">swap</span> and non-cleared <span class=\"match\">security-based</span> <span class=\"match\">swap</span> transactions or exchange variation margin for uncleared <span class=\"match\">swap</span> and non-cleared <span class=\"match\">security-based</span> <span class=\"match\">swap</span> transactions as required by the Commission's uncleared <span class=\"match\">swaps</span> margin rules or the SEC's non-cleared <span class=\"match\">security-based</span> <span class=\"match\">swaps</span> margin rules, <span class=\"match\">respectively</span>, if the aggregate is equal to or greater than: (i) 25 percent of the nonbank SD's required capital under Commission Regulation 23.101"},{"title":"Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17a-4","type":"Notice","abstract":null,"document_number":"2025-21924","html_url":"https://www.federalregister.gov/documents/2025/12/04/2025-21924/agency-information-collection-activities-submission-for-omb-review-comment-request-extension-rule","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-12-04/pdf/2025-21924.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-21924.pdf?1764769514","publication_date":"2025-12-04","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"recordkeeping system pursuant to Rules 17a-4(f), <span class=\"match\">respectively</span>, in a reasonably usable electronic format, if requested by a representative of the Commission.\n 24 \n \n The amendments to Rule 17a-4(i) provided an alternative undertaking for certain third-party electronic recordkeeping service providers, in particular cloud service providers.\n 25 \n \n \n \n \n 20 \n  \n See \n section II.D. of the \n Electronic Recordkeeping Requirements for Broker-Dealers, <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> Dealers, and Major <span class=\"match\">Security-Based</span> <span class=\"match\">Swap</span> <span class=\"match\">Participants</span>, \n Exchange Act Release No. 34-96034 (Oct"}]}