SEC/CFTC open 60-day swaps review; definitions and reporting in scope

Two SEC/CFTC releases on June 18, 2026 put derivatives-market plumbing into a 60-day public comment window. Release 2026-57 asks for input on swaps and security-based swaps definitions, while release 2026-56 asks for input on data reporting frameworks for security-based swap and swap markets.

The first request covers Title VII definitional questions, including exclusions from the swap definition, treatment of mixed swaps, novel or emerging products, jurisdictional questions, and possible alternative compliance. The SEC page says the agencies are seeking comment on whether current definitions and interpretations still fit evolving market structures and trading practices. The primary release is available from the SEC here.

The second request addresses operational, technological, and policy questions around reporting. It names security-based swap markets under SEC oversight and swap markets under CFTC oversight, with the stated aim of harmonizing, modernizing, and streamlining data reporting requirements. The related SEC release is available here.

For market participants, the number to track is the 60-day window after Federal Register publication. Dealers, trading venues, data repositories, clearing firms, and compliance teams will be watching whether the agencies move from questions to proposed rule text, especially on mixed swaps and reporting fields that determine which regulator receives which data.

The next checkpoint is the Federal Register publication date and the comment-file docket. Until proposed amendments appear, this is a regulatory signal rather than a rule change, but the scope covers the definitions and data rails used across U.S. derivatives supervision.

Not investment advice. Verify all figures with primary sources before acting.