The Commodity Futures Trading Commission has authorized the National Futures Association (NFA) to receive, review, maintain and serve as the official custodian of records for notices of swap valuation disputes in excess of US $20 million (or its equivalent in other currencies) provided by swap dealers (SDs) and major swap participants (MSPs), pursuant to its Regulation 23.502(c ), effective March 1. Under CFTC rules, SDs and MSPs are currently required to notify the CFTC in connection with such disputes if they are not resolved within a certain time frame. As part of its delegation, the NFA is required to provide the CFTC summaries and reports regarding such notices.
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