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April 24, 2014

Commodity Futures Trading Commission (CFTC) Announces Mutual Acceptance of Approved Legal Entity Identifiers

On October 30, the Commodity Futures Trading Commission’s chief information officer announced that registered entities and swap counterparties subject to CFTC swap data recordkeeping and reporting requirements concerning legal entity identifiers (LEIs) may now comply with those regulations by using any LEI issued by a provider that has been endorsed by the Regulatory Oversight Committee (ROC) of the global LEI system. Following this announcement, market participants may use CFTC Interim Compliant Identifiers (CICIs) issued by the CICI utility operated by DTCC-SWIFT or any other LEI codes endorsed by the ROC.   

A complete listing of LEIs that have been endorsed by the ROC is available here

The CFTC notice is available here.

©2014 Katten Muchin Rosenman LLP

About the Author

Kevin M. Foley, Finance Attorney, Katten Muchin law Firm
Partner

Kevin M. Foley has extensive experience in commodities law and advises a wide range of clients, both in the United States and abroad, on compliance with the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC) affecting traditional exchange-traded products, as well as the over-the-counter markets involving swaps and other derivative instruments. His clients include futures commission merchants, derivatives clearing organizations, designated contract markets, foreign boards of trade and an industry trade association.

312-902-5372

About the Author

Blake J. Brockway, Finance Attorney, Katten Muchin Law Firm
Associate

Blake J. Brockway concentrates his practice in financial service matters.

Mr. Brockway received his Bachelor of Science, with distinction, from Iowa State University in 2005. He received his Juris Doctor, magna cum laude, from DePaul University College of Law in 2009, where he was selected to the Order of the Coif. During law school, Mr. Brockway served a research staff member of the DePaul Business and Commercial Law Journal and his comment, "Applying Federal Securities Laws to Chapter 11 Claim Conversions," was published in Volume 7, Issue 4...

312.902.5438

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