Commodity Futures Trading Commission December 12, 2008 – Federal Register Recent Federal Regulation Documents

The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing rules to implement the CFTC Reauthorization Act of 2008 (``Reauthorization Act'').\1\ In pertinent part, the Reauthorization Act amends the Commodity Exchange Act to significantly expand the CFTC's regulatory authority over exempt commercial markets (``ECMs''), which had heretofore operated largely outside the Commission's regulatory reach, by creating a new regulatory category ECMs with significant price discovery contracts (``SPDCs'')and directing the Commission to adopt rules to implement this expanded authority. In addition to proposing regulations mandated by the Reauthorization Act, the Commission is also proposing to amend existing regulations applicable to registered entities in order to clarify that such regulations are now applicable to ECMs with SPDCs.