The U.S. Commodity Futures Trading Commission (CFTC) formed a group that will review recordkeeping and reporting provisions for certain swaps transaction data, the agency said in a statement.
The group, to be led by the director of the Division of Market Oversight, will recommend questions for public comment on topics such as consistency in compliance among market participants and compliance with swaps reporting rules under Part 45 of the Code of Federal Regulations.
The group will publish a request for public comment by March 15.
The CFTC is moving to revamp oversight of swap-market data after a member said the agency's current information wouldn't help detect a loss like JPMorgan Chase & Co.'s London Whale trades.
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