7 USC 6d(f) imposes requirements on futures commission merchants (“FCMs”) and derivatives clearing organizations (“DCOs”) regarding the safeguarding and use of collateral provided my customers to serve as margin for cleared swaps transactions. 17 CFR Part 22 contains implementing regulations. Sections 22.2(g), 22.5(a), 22.11, 22.12, and 22.16 impose recordkeeping and third-party disclosure requirements necessary for the effective operation of the statutory and regulatory scheme. Section 22.16 requires that each FCM who has cleared swaps customers disclose to each customer once each year the governing provisions, as established by DCO rules or agreements between collecting and depositing FCMs, relating to use of customer collateral, transfer, neutralization of the risks, or liquidation of cleared swaps in the event of a default by the FCM. The purpose of this reporting requirement is to ensure that cleared swaps customers are informed of the procedures to which accounts containing their swaps collateral may be subject in the event of a default by their FCM.
The latest form for Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral expires 2024-01-31 and can be found here.
Comment filed on proposed rule and continue |
Revision of a currently approved collection | 2023-12-28 | |
Approved without change |
Extension without change of a currently approved collection | 2023-11-13 | |
Approved without change |
Revision of a currently approved collection | 2020-09-25 | |
Approved without change |
Extension without change of a currently approved collection | 2017-07-27 | |
Approved without change |
Revision of a currently approved collection | 2013-11-14 | |
Approved without change |
Reinstatement with change of a previously approved collection | 2013-09-11 | |
Improperly submitted |
Reinstatement without change of a previously approved collection | 2013-09-10 | |
Comment filed on proposed rule and continue |
Revision of a currently approved collection | 2012-11-14 | |
Approved without change |
New collection (Request for a new OMB Control Number) | 2012-01-27 | |
Comment filed on proposed rule |
New collection (Request for a new OMB Control Number) | 2011-06-27 |