The CFTC is adopting final rules to implement the Dodd-Frank Act's new statutory framework regarding swap data recordkeeping and reporting requirements for all swap transactions. The rules apply to swap data recordkeeping and reporting requirements for swap data repositories, derivatives clearing org (non-SD/MSP counterparties) (including, without limitation, counterparties entitled to elect the clearing requirement exception pursuant to CEA § 2(h)(7) with respect to particular swaps). The rules being adopted apply to swap data recordkeeping and reporting requirements for swap data

CFTC Staff Letter 11-09 The CFTC in connection with a Final Order amending the effective date for swap regulation has issued a staff No-Action Letter that extends the relief previously granted for provisions of the Dodd-Frank Act the reference the terms "swap," "swap dealer," "major swap participant," or "eligible contract participant," that was set to expire on December 31, 2011 to July 16, 2012 or the effective date of the applicable final rule further defining the relevant term referenced in the provision, whichever is earlier. Cross References: Dodd-Frank Act Section 754; 17 CFR Parts 1 35

76 FR XXXX Federal Register: Effective Date for Swap Regulation The CFTC issued a Final Order regarding the effective date for swap regulation that extends the potential latest expiration date of the exemptive relief to July 16, 2012. Previously, the CFTC on July 14, 2011 granted temporary exemptive relief from certain provisions of the CEA that otherwise would have taken effect on July 16, 2011, the general effective date of title VII of the Dodd-Frank Act. On October 25, 2011, the CFTC proposed to extend the exemptive relief beyond the December 31, 2011, expiration date. The Final Order

Open Meeting CFTC Press Release 6157-11 View Archived Webcast The CFTC held a public meeting on, December 20, 2011 on the following topics: (1) Final Rule on Real-Time Reporting of Swap Transaction Data; and (2) Final Rule on Swap Data Recordkeeping and Reporting Requirements A third rule on Effective Date for Swap Regulation was previously scheduled for consideration, but was approved in advance. The CFTC unanimously approved both items on the agenda. Highlights of the CFTC's actions include: Real-Time Reporting of Swap Transaction Data The final rules implement a framework for the real-time

76 FR XXXX Federal Register: Real-Time Public Reporting of Swap Transaction Data This CFTC's final rules implement Section 727 of the Dodd-Frank Act to provide a real-time public reporting regime to promote transparency and enhance price discovery in the swaps markets. The part 43 rules are designed to make swap transaction and pricing data available to the public in real-time by regulating reporting and public dissemination while protecting the anonymity of market participants. The final rules also provide for time delays for publicly disseminating certain swap transaction and pricing data