Swap Recordkeeping Requirements

The information collection obligations imposed by the “Adaptation of Regulations to Incorporate Swaps” final regulations are necessary to implement section 721 of the Dodd-Frank Act, which amended the definitions of futures commission merchant (“FCM”) and introducing broker (“IB”) to permit these intermediaries to trade swaps on behalf of customers. They also are necessary to implement section 733 of the Dodd-Frank Act which introduced swap execution facilities (“SEFs”) as a new trading platform for swaps. As a result of the enactment of sections 721 and 733, the Commission needed to amend certain recordkeeping regulations (1.31, 1.33, 1.35, 1.37, and 1.39) so that records of swap transactions are maintained analogously to how futures transactions are maintained. Further, the “Exclusion of Utility Operations-Related Swaps With Utility Special Entities From De Minimis Threshold for Swaps With Special Entities” regulation amended the Commission’s swap dealer definition to permit a person to exclude “utility operations-related swaps” with “utility special entities” in their de minimis threshold calculations. The regulation requires a person claiming the exclusion to maintain in accordance with Commission regulation 1.31 any written representations that the person receives form utility special entities related to this exclusion.

The latest form for Swap Recordkeeping Requirements expires 2023-08-31 and can be found here.

Adaptation of Regulations to Incorporate Swaps-Records of Transactions

Federal Enterprise Architecture: General Government - Executive Functions