Commodity Futures Trading Commission July 19, 2011 – Federal Register Recent Federal Regulation Documents

On June 17, 2011, the Commodity Futures Trading Commission (``CFTC'' or the ``Commission'') published for public comment in the Federal Register a proposed order that would grant, pursuant to the Commission's exemptive authority pursuant to the Commodity Exchange Act (``CEA''), certain temporary relief from the provisions of the CEA added or amended by title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'') that reference one or more terms regarding entities or instruments that title VII requires be ``further defined,'' such as the terms ``swap,'' ``swap dealer,'' ``major swap participant,'' or ``eligible contract participant,'' to the extent that requirements or portions of such provisions specifically relate to such referenced terms and do not require a rulemaking. The CFTC also proposed to grant temporary relief from certain provisions of the CEA that will or may apply to certain agreements, contracts, and transactions in exempt or excluded commodities as a result of the repeal of various CEA exemptions and exclusions as of the general effective date set forth in section 754 of the Dodd-Frank Act, July 16, 2011. Upon consideration of the full record, the Commission has determined to issue this final exemptive order (``Final Order'') essentially as proposed, with appropriate or necessary modification or clarification.