SEC, CFTC Seek Public Input on Data Reporting Frameworks for Security-Based Swap and Swap Markets

The Securities and Exchange Commission and Commodity Futures Trading Commission today issued a joint request for public comment on potential opportunities to harmonize, modernize, and streamline data reporting requirements in their regulation of the security-based swap and swap markets, respectively. “Extensive data collection, if not appropriately calibrated, can hinder, rather than enhance, understanding and accountability,” said SEC Chairman Paul S. Atkins. “Working closely with the CFTC, we can ensure that we are collecting the data necessary to meet statutory objectives under a harmonized reporting regime. I welcome feedback on how we can improve our security-based swap data reporting regime in a manner that protects the integrity of the information and lowers costs.” “I’m proud to be working alongside SEC Chairman Atkins to streamline and harmonize swap data reporting for registrants in accordance with our ongoing efforts to foster interagency cooperation,” said CFTC Chairman Michael S.