Commodity Futures Trading Commission November 2012 – Federal Register Recent Federal Regulation Documents
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Agency Information Collection Activities: Notice of Intent To Renew Collection, Procurement Contracts
The Commodity Futures Trading Commission (``the Commission'') is announcing an opportunity for public comment on the proposed collection of certain information by the agency. Under the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq., Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, and to allow 60 days for comment in response to the notice. This notice solicits comments on the extension of requirements relating to information collected to assist the Commission in soliciting and awarding contracts, OMB Control No. 3038- 0031.
Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to adopt new regulations and amend existing regulations to require enhanced customer protections, risk management programs, internal monitoring and controls, capital and liquidity standards, customer disclosures, and auditing and examination programs for futures commission merchants (``FCMs''). The proposal also addresses certain related issues concerning derivatives clearing organizations (``DCOs'') and chief compliance officers (``CCOs''). The proposed rules will afford greater assurances to market participants that: customer segregated funds and secured amounts are protected; customers are provided with appropriate notice of the risks of futures trading and of the FCMs with which they may choose to do business; FCMs are monitoring and managing risks in a robust manner; the capital and liquidity of FCMs are strengthened to safeguard their continued operations; and the auditing and examination programs of the Commission and the self-regulatory organizations (``SROs'') are monitoring the activities of FCMs in a prudent and thorough manner.
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0098: Exemptive Order Regarding Compliance With Certain Swap Regulations
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is announcing an opportunity for public comment on the proposed extension of its current approval from the Office of Management and Budget (``OMB '') of an information collection request (``ICR'') titled ``Exemptive Order Regarding Compliance with Certain Swap Regulations,'' OMB Control No. 3038-0098. OMB approved the Commission's initial ICR request on August 13, 2012, utilizing emergency review procedures in accordance with the Paperwork Reduction Act of 1995 (``PRA''), 44 U.S.C. 3501 et seq., and Office of Management and Budget (``OMB'') regulation 5 CFR 1320.13. The Commission's notice of its initial submission for OMB emergency review of the ICR was published in the Federal Register, 77 FR 43271, on July 24, 2012. The Commission is inviting interested parties to comment on the proposed extension of the currently approved ICR, relating to the proposed Exemptive Order Regarding Compliance with Certain Swap Regulations (``Proposed Exemptive Order'') pursuant to Section 4(c) of the Commodity Exchange Act (``CEA'').\1\ If approved, the collection of information will be required to obtain or retain a benefit.
Adaptation of Regulations To Incorporate Swaps
The Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'' or ``DFA'') established a comprehensive new statutory framework for swaps and security-based swaps. The Dodd-Frank Act repeals some sections of the Commodity Exchange Act (``CEA'' or ``Act''), amends others, and adds a number of new provisions. The DFA also requires the Commodity Futures Trading Commission (``CFTC'' or ``Commission'') to promulgate a number of rules to implement the new framework. The Commission has proposed and finalized numerous rules to satisfy its obligations under the DFA. This rulemaking makes a number of conforming amendments to integrate the CFTC's regulations more fully with the new framework created by the Dodd-Frank Act.
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