The Commodity Futures Trading Commission's Division of Market Oversight on July 10 launched a comprehensive review of its swap data reporting regulations and invited input from entities involved in swaps reporting. The CFTC said the review has two goals: 1) to ensure that the CFTC receives accurate, complete and highquality data on swaps transactions for its regulatory oversight role; and 2) to streamline reporting, reduce the messages that must be reported, and "right-size" the number of data elements that are reported. The CFTC also provided a "roadmap" for the review process. The first tranche of rule changes will address swap data repository operations and the confirmation of data accuracy by swap counterparties. The second tranche will address reporting workflows generally, including standardization of data fields and potential delayed reporting deadlines.