Data / Federal rules / 2025-18924
Revisions to Business Conduct and Swap Documentation Requirements for Swap Dealers and Major Swap Participants
The Commodity Futures Trading Commission published this proposed rule in the Federal Register on September 30, 2025. Comments closed on October 24, 2025.
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What the agency says
The Commodity Futures Trading Commission ("CFTC" or "Commission") is proposing amendments to certain of the Commission's business conduct and documentation requirements applicable to swap dealers and major swap participants. These amendments would provide exceptions to compliance with such requirements when executing swaps that are: intended by the parties to be cleared contemporaneously with execution; or subject to prime broker arrangements that meet certain qualifying conditions. The proposed amendments would also make certain other changes discussed herein. The proposed amendments, if adopted, would supersede certain no-action positions issued by the Commission's Market Participants Division ("MPD").
Key facts
- Document number
- 2025-18924
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking
- Agency
- Commodity Futures Trading Commission
- Published
- September 30, 2025
- Comments due
- October 24, 2025
- Dates
- Comments must be received on or before October 24, 2025.
- Regulation ID (RIN)
- 3038-AF38
- Code of Federal Regulations
- 17 CFR 23
- Topics
- Reporting and recordkeeping requirements; Swaps
- Significant
- Yes, under Executive Order 12866
- Pages
- 33
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|---|---|---|
| Further Definition of “Swap”-Inclusions 2026-21377 | Proposed rule | Oct 19 |
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| Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets 2026-20888 | Proposed rule | Oct 13 |
| Privacy Act Regulations 2026-19290 · significant | Proposed rule | Sep 21 |
| Whistleblower Award Determination 2026-19006 | Final rule | Sep 16 |
| Clearing Requirement Determination Under Section 2(h) of the Commodity Exchange Act for Interest Rate Swaps To Account for CAD and MXN Interest Rate Benchmark Transitions 2026-18212 | Final rule | Sep 8 |
| Form PF; Reporting Requirements for All Filers and Large Hedge Fund Advisers; Further Extension of Compliance Date 2026-18104 | Final rule | Sep 3 |
| Swap Execution Facility Order Book Requirement for Permitted Transactions 2026-17416 | Proposed rule | Aug 26 |
Everything from the Commodity Futures Trading Commission · Rules on reporting and recordkeeping requirements · Rules on swaps · Published in September 2025
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.