Commodity Futures Trading Commission January 14, 2021 – Federal Register Recent Federal Regulation Documents

The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting amendments in this final rule (``Final Rule'') to conform regulations concerning speculative position limits to the relevant Wall Street Transparency and Accountability Act of 2010 (``Dodd-Frank Act'') amendments to the Commodity Exchange Act (``CEA''). Among other regulatory amendments, the Commission is adopting: New and amended Federal spot-month limits for 25 physical commodity derivatives; amended single month and all-months-combined limits for most of the agricultural contracts currently subject to Federal position limits; new and amended definitions for use throughout the position limits regulations, including a revised definition of ``bona fide hedging transaction or position'' and a new definition of ``economically equivalent swaps''; amended rules governing exchange-set limit levels and grants of exemptions therefrom; a new streamlined process for bona fide hedging recognitions for purposes of Federal position limits; new enumerated bona fide hedges; and amendments to certain regulatory provisions that would eliminate Form 204 while also enabling the Commission to leverage and receive cash-market reporting submitted directly to the exchanges by market participants.