The Commodity Futures Trading Commission (CFTC) is inviting public comments on the renewal of a collection of information under the Paperwork Reduction Act. This involves swap dealers (SDs) and major swap participants (MSPs) notifying counterparties of their rights regarding the segregation of initial margin and reporting quarterly on compliance with margin and collateral agreements. The notice explains the requirements under Regulations 23.701 and 23.704 for these notifications and reports, and mentions that the public can submit comments by April 4, 2025, on the necessity and burden of this information collection. The estimated total annual burden for respondents is 149,036 hours.
Simple Explanation
The government wants to hear what people think about a rule that makes sure companies trading certain financial items tell their partners about money safety and follow-up every three months to confirm they are following the rules they agreed on.