Commodity Futures Trading Commission December 2013 – Federal Register Recent Federal Regulation Documents

Agency Information Collection Activities; Notice of Intent To Renew Collection: Procedural Requirements for Requests for Interpretative, No-Action, and Exemptive Letters
Document Number: 2013-31106
Type: Notice
Date: 2013-12-30
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) seeks public comment on the proposed renewal of a collection of information by the agency. Under the Paperwork Reduction Act (PRA), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment in response to the notice. This notice solicits comments on requirements relating to requests for and issuance of exemptive, no- action, and interpretative letters.
Comparability Determination for the European Union: Certain Transaction-Level Requirements
Document Number: 2013-30981
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a joint request by the European Commission (``EC'') and the European Securities and Markets Authority (``ESMA'') that the Commission determine that laws and regulations applicable in the European Union (``EU'') provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission: (i) swap trading relationship documentation; (ii) swap portfolio reconciliation and compression; (iii) trade confirmation; and (iv) daily trading records (collectively, the ``Business Conduct Requirements'').
Comparability Determination for the European Union: Certain Entity-Level Requirements
Document Number: 2013-30980
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a joint request by the European Commission (``EC'') and the European Securities and Markets Authority (``ESMA'') that the Commission determine that laws and regulations applicable in the European Union (``EU'') provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission: (i) Chief compliance officer; (ii) risk management; and (iii) swap data recordkeeping; (collectively, the ``Internal Business Conduct Requirements'').
Comparability Determination for Canada: Certain Entity-Level Requirements
Document Number: 2013-30979
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a joint request by the Canadian Bankers Association (``CBA''), five individual Canadian banks provisionally-registered with the Commodity Futures Trading Commission (``Commission'') as swap dealers (``SDs''), and the Office of the Superintendent of Financial Institutions (``OSFI'') that the Commission determine that certain laws and regulations applicable in Canada provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to SDs and major swap participants (``MSPs'') registered with the Commission: (i) Chief compliance officer; (ii) risk management; and (iii) swap data recordkeeping (collectively, the ``Internal Business Conduct Requirements'').
Comparability Determination for Switzerland: Certain Entity-Level Requirements
Document Number: 2013-30978
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a request by UBS AG (``UBS'') that the Commission determine that laws and regulations applicable in Switzerland provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission: (i) Chief compliance officer; (ii) risk management; and (iii) swap data recordkeeping (collectively, the ``Internal Business Conduct Requirements'').
Comparability Determination for Japan: Certain Transaction-Level Requirements
Document Number: 2013-30977
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a request by the Bank of Tokyo-Mitsubishi UFJ, Ltd (``BTMU'') that the Commission determine that laws and regulations applicable in the Japan provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission: (i) Swap trading relationship documentation and (ii) daily trading records (collectively, the ``Business Conduct Requirements'').
Comparability Determination for Japan: Certain Entity-Level Requirements
Document Number: 2013-30976
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a joint request by the Bank of Tokyo-Mitsubishi UFJ, Ltd (``BTMU''), Goldman Sachs Japan Co., Ltd., Merrill Lynch Japan Securities Co., Ltd., and Morgan Stanley MUFG Securities Co., Ltd. that the Commission determine that laws and regulations applicable in Japan provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission: (i) Chief compliance officer; (ii) risk management; and (iii) swap data recordkeeping (collectively, the ``Internal Business Conduct Requirements'').
Comparability Determination for Hong Kong: Certain Entity-Level Requirements
Document Number: 2013-30975
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a request by the Hong Kong Monetary Authority (``HKMA'') that the Commission determine that laws and regulations applicable in Hong Kong provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission: (i) Chief compliance officer; (ii) risk management; and (iii) swap data recordkeeping (collectively, the ``Internal Business Conduct Requirements'').
Comparability Determination for Australia: Certain Entity-Level Requirements
Document Number: 2013-30974
Type: Notice
Date: 2013-12-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding certain parts of a request by the Australian Bankers Association (``ABA'') that the Commission determine that laws and regulations applicable in in the Commonwealth of Australia (``Australia'') provide a sufficient basis for an affirmative finding of comparability with respect to the following regulatory obligations applicable to swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission: (i) Chief compliance officer; (ii) risk management; and (iii) swap data recordkeeping (collectively, the ``Internal Business Conduct Requirements'').
Agency Information Collection Activities; Proposed Collection; Comment Request: Part 41, Relating to Security Futures Products
Document Number: 2013-30419
Type: Notice
Date: 2013-12-23
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) is announcing an opportunity for public comment on the extension of a proposed collection of certain information by the agency. In compliance with 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, including each proposed extension of an existing collection of information, and to allow 60 days for public comment in response to the notice. This notice solicits comments, as described below, on the proposed Information Collection Request (ICR) titled: Part 41, Relating to Security Futures Products; OMB Control Number 3038-0059.
Position Limits for Derivatives
Document Number: C1-2013-27200
Type: Proposed Rule
Date: 2013-12-19
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Position Limits for Derivatives
Document Number: 2013-27200
Type: Proposed Rule
Date: 2013-12-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commission proposes to amend regulations concerning speculative position limits to conform to the Wall Street Transparency and Accountability Act of 2010 (``Dodd-Frank Act'') amendments to the Commodity Exchange Act (``CEA'' or ``Act''). The Commission proposes to establish speculative position limits for 28 exempt and agricultural commodity futures and option contracts, and physical commodity swaps that are ``economically equivalent'' to such contracts. In connection with establishing these limits, the Commission proposes to update some relevant definitions; revise the exemptions from speculative position limits, including for bona fide hedging; and extend and update reporting requirements for persons claiming exemption from these limits. The Commission proposes appendices that would provide guidance on risk management exemptions for commodity derivative contracts in excluded commodities permitted under the proposed definition of bona fide hedging position; list core referenced futures contracts and commodities that would be substantially the same as a commodity underlying a core referenced futures contract for purposes of the proposed definition of basis contract; describe and analyze fourteen fact patterns that would satisfy the proposed definition of bona fide hedging position; and present the proposed speculative position limit levels in tabular form. In addition, the Commission proposes to update certain of its rules, guidance and acceptable practices for compliance with Designated Contract Market (``DCM'') core principle 5 and Swap Execution Facility (``SEF'') core principle 6 in respect of exchange- set speculative position limits and position accountability levels.
Agency Information Collection Activities Under OMB Review
Document Number: 2013-29521
Type: Notice
Date: 2013-12-11
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) 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, including each proposed extension of an existing collection of information, and to allow 60 days for public comment in response to the notice. This notice solicits comments on requirements relating to practice before the Commission by former members and employees of the Commission.
Sunshine Act Meetings
Document Number: 2013-29296
Type: Notice
Date: 2013-12-06
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2013-29180
Type: Notice
Date: 2013-12-05
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Derivatives Clearing Organizations and International Standards
Document Number: 2013-27849
Type: Rule
Date: 2013-12-02
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') is adopting final regulations to establish additional standards for compliance with the derivatives clearing organization (``DCO'') core principles set forth in the Commodity Exchange Act (``CEA'') for systemically important DCOs (``SIDCOs'') and DCOs that elect to opt-in to the SIDCO regulatory requirements (``Subpart C DCOs''). Pursuant to the new regulations, SIDCOs and Subpart C DCOs are required to comply with the requirements applicable to all DCOs, which are set forth in the Commission's DCO regulations on compliance with core principles, to the extent those requirements are not inconsistent with the new requirements set forth herein. The new regulations include provisions concerning: procedural requirements for opting in to the regulatory regime as well as substantive requirements relating to governance, financial resources, system safeguards, special default rules and procedures for uncovered losses or shortfalls, risk management, additional disclosure requirements, efficiency, and recovery and wind- down procedures. These additional requirements are consistent with the Principles for Financial Market Infrastructures (``PFMIs'') published by the Committee on Payment and Settlement Systems and the Board of the International Organization of Securities Commissions (``CPSS-IOSCO''). In addition, the Commission is adopting certain delegation provisions and certain technical clarifications.