CFTCFinal RuleJanuary 28, 2026

Business Conduct and Swap Documentation Requirements for Swap Dealers and Major Swap Participants; Correction

Finance & Banking

Summary

This regulation clarifies rules that swap dealers and major financial traders must follow when conducting business and documenting their complex financial transactions called swaps. The fix ensures that financial institutions properly record their deals and treat customers fairly, which helps protect the broader financial system from risky behavior.

Key Points

1Swap dealers and large financial traders must maintain clear records of all their swap transactions and follow specific business conduct standards
2Companies must document agreements in writing before completing swaps, and keep detailed records for regulators to review
3The rule applies to financial institutions that regularly trade swaps (complex bets on interest rates, currencies, or other financial benchmarks)
4This is a correction to a previous rule, fixing technical language and clarifying what companies must actually do to comply
5The regulation aims to increase transparency and reduce hidden risks in the financial system that could affect everyday investors and the economy

Key Dates

Published

January 28, 2026

Read on Federal Register View Docket

This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.