FIA submitted a petition to the CFTC to sunset its Part 20 regulations for large trader reporting for physical commodity swaps (“Swaps LTR Rules”).
The CFTC issued the Swaps LTR Rules in 2011 as a temporary swaps data collection measure. Since that time, the CFTC has established through a series of rulemakings a comprehensive reporting regime for swaps that has rendered the Swaps LTR Rules redundant and unnecessary. FIA believes that time is ripe for the CFTC to repeal the Swaps LTR Rules.
Such a move would allow market participants to focus on fulfilling regulatory requirements that better support the CFTC's oversight duties and help the CFTC fulfill the President's mandate to eliminate unnecessary federal rules.
Read the letter.
