SEC, CFTC Seek Comment on Swap Data Rules

• The SEC and CFTC issued a joint request for public comment on harmonizing, modernizing, and streamlining data reporting requirements for security-based swap and swap markets.
• The agencies said their goal is to enhance market transparency, reduce unnecessary operational complexity, promote data quality, and improve regulatory oversight while preserving the distinct statutory mandates of each agency under the Dodd-Frank Act.
• The request covers five topics: harmonization across frameworks, transparency and data quality, operational complexity, standardized identifiers and reference data, and implementation considerations.
• The press release carries release number 2026-56 and was published on June 18, 2026.

Joint Request Targets Swap Data Reporting

The Securities and Exchange Commission and the Commodity Futures Trading Commission issued a joint request for public comment on harmonizing, modernizing, and streamlining data reporting requirements for security-based swap and swap markets. The announcement was made in a press release numbered 2026-56, published on June 18, 2026.

SEC, CFTC Seek Comment on Swap Data Rules

Purpose of the Request

The purpose of the request for comment is to assist the agencies in evaluating whether changes to the design, scope, and structure of security-based swap and swap data reporting requirements would lead to greater alignment between their respective reporting frameworks. The agencies stated their goal is to enhance market transparency, reduce unnecessary operational complexity, promote data quality, and improve regulatory oversight while preserving the distinct statutory mandates of each agency under the Dodd-Frank Act.

Topics Covered

The joint request for comment addresses several specific topics.

• Harmonization across frameworks.
• Transparency and data quality.
• Operational complexity.
• Standardized identifiers and reference data.
• Implementation considerations.

Regulator Statements

SEC Chairman Paul S. Atkins commented on the initiative.

Extensive data collection, if not appropriately calibrated, can hinder, rather than enhance, understanding and accountability.

— Paul S. Atkins, SEC Chairman

CFTC Chairman Michael S. Selig also weighed in on the joint effort.

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.

— Michael S. Selig, CFTC Chairman

What Happens Next

According to the joint release, the request for comment is intended to assist the agencies in evaluating whether changes to the design, scope, and structure of security-based swap and swap data reporting requirements would lead to greater alignment between their respective reporting frameworks. The agencies framed the effort around enhancing market transparency, reducing unnecessary operational complexity, promoting data quality, and improving regulatory oversight, while preserving the distinct statutory mandates of each agency under the Dodd-Frank Act.

The release states that feedback is being sought across the five listed areas, from harmonization across frameworks and transparency and data quality to operational complexity, standardized identifiers and reference data, and implementation considerations. The joint request was announced in press release 2026-56, dated June 18, 2026.