The Commodity Futures Trading Commission proposed to amend the definition of “material terms” in connection with the ongoing obligation of swaps dealers and major swap participants to provide swap counterparties with data to reconcile their swap portfolios. The proposed rule reduces the data fields that must be exchanged between relevant parties on an ongoing basis mostly consistent with prior staff no-action letters. Comments will be accepted by the CFTC for 60 days after publication of the proposed rule in the Federal Register. (Click here for additional information on this proposed rule in the article “CFTC Announces Proposal to Amend the Definition of ‘Material Terms’ for Purposes of Swap Portfolio Reconciliation” in the September 18, 2015 edition of Corporate & Financial Weekly Digest by Katten Muchin Rosenman LLP.)