CFTC Issues No-Action Letter Regarding Swap Recordkeeping and Data Reporting

The Market Oversight Division and the Clearing and Risk Division of the U.S. Commodity Futures Trading Commission (CFTC) have issued a no-action letter, stating they do not recommend enforcement action against designated contract markets, derivatives clearing organizations, and their participants for failing to comply with swap recordkeeping requirements and for not reporting fully collateralized event contract trading data to swap data repositories. Previous no-action letters regarding similar contract data reporting remain in effect, and relevant entities may apply for the same treatment; once approved, they will be added to the appendix of the no-action letter.