• Industry News
  • 22 March 2022

Latest CFTC fines highlight gaps in reporting practices

ISDA’S Digital Regulatory Reporting (DRR) is helping financial institutions avoid heavy regulatory fines and the latest CFTC penalty highlights that this is still an ongoing challenge. The CFTC has charged a London-based swaps dealer $3.25m for failing “to report certain swaps data to an SDR accurately for hundreds of thousands of swaps.” 

By mutualising the cost of implementing reporting requirements, DRR enables firms to build a more streamlined and consistent reporting infrastructure and successfully navigate the compliance process. 

As firms prepare for the upcoming CFTC Rewrite and EMIR Refit deadlines, the charges highlight the need to have robust reporting framework in place and ensure alignment with the industry’s best practice.

Learn more about the CFTC charges here.

For more about leveraging DRR for reporting, visit our previous blog.