The Commodity Futures Trading Commission’s Division of Market Oversight has taken a no-action position toward reporting counterparties that fail to submit a swap data error correction notification for an error, provided that at the time the reporting counterparty initially discovers the error and assesses its impact it reasonably determines that the number of reportable trades affected does not exceed five percent of its open swaps in the relevant asset class for swaps for which it was the reporting counterparty.
Commodity Futures Trading Commission 2025-07-31
Commodity Futures Trading Commission takes no-action position on missing swap data error correction notifications where affected trades are 5% or less of open swaps
The Commodity Futures Trading Commission’s Division of Market Oversight has adopted a no-action position for reporting counterparties that do not submit a swap data error correction notification, provided the error affects no more than five percent of their open swaps in the relevant asset class.