The Commodity Futures Trading Commission has issued a notice in line with the Paperwork Reduction Act of 1995, concerning the Information Collection Request (ICR) for Swap Execution Facilities (SEFs). This request has been sent to the Office of Management and Budget (OMB) for review. The purpose is to ensure SEFs meet specific registration and operational requirements, including providing transaction confirmations and complying with 15 core principles. The estimated burden for respondents is adjusted to 775 hours each, totalling 15,499 hours annually for 20 respondents. Public comments on this collection can be submitted by April 10, 2025.
Simple Explanation
The Commodity Futures Trading Commission is checking if some special trading places called Swap Execution Facilities are doing things right, like recording trades correctly and following important rules. They want people to share their thoughts about this by April 10, 2025.