Commodity Futures Trading Commission – Federal Register Recent Federal Regulation Documents

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Sunshine Act Meetings
Document Number: 2019-07738
Type: Notice
Date: 2019-04-17
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Agency Information Collection Activities: Notice of Intent To Extend Collection Number 3038-0080, Annual Report for Chief Compliance Officer of Registrants
Document Number: 2019-07381
Type: Notice
Date: 2019-04-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is announcing an opportunity for public comment on the proposed extension of a collection of certain 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. This notice solicits comments on the collections of information mandated by Commission Regulation 3.3 (Chief Compliance Officer).
Agency Information Collection Activities Under OMB Review
Document Number: 2019-07380
Type: Notice
Date: 2019-04-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In compliance with the Paperwork Reduction Act of 1995 (``PRA''), this notice announces that the Information Collection Request (``ICR'') abstracted below has been forwarded to the Office of Management and Budget (``OMB'') for review and comment. The ICR describes the nature of the information collection and its expected costs and burdens.
Agency Information Collection Activities: Notice of Intent To Revise Collection 3038-0089, Swap Data Recordkeeping and Reporting Requirements: Pre-Enactment and Transition Swaps
Document Number: 2019-07307
Type: Notice
Date: 2019-04-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'') is announcing an opportunity for public comment on the proposed renewal of an information collection 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 and to allow 60 days for public comment. This notice solicits comments on the swap data recordkeeping and reporting requirements codified in 17 CFR 46. This part imposes recordkeeping and reporting requirements on the following entities: Swap Dealers (``SDs''), Major Swap Participants (``MSPs''), and swap counterparties that are neither swap dealers nor major swap participants (``non-SD/MSP counterparties'').
Agency Information Collection Activities: Notice of Intent To Revise Collection Numbers 3038-0087, Reporting, Recordkeeping, and Daily Trading Records Requirements for Swap Dealers and Major Swap Participants
Document Number: 2019-07306
Type: Notice
Date: 2019-04-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is announcing an opportunity for public comment on the proposed renewal of three collections of certain 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. This notice solicits comments on the collections of information mandated by Commission regulations 23.201 through 23.205 (Reporting, Recordkeeping, and Daily Trading Records Requirements For Swap Dealers and Major Swap Participants).
Agency Information Collection Activities: Notice of Intent To Revise Collection Number 3038-0084, Regulations Establishing and Governing the Duties of Swap Dealers and Major Swap Participants
Document Number: 2019-07027
Type: Notice
Date: 2019-04-10
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is announcing an opportunity for public comment on the proposed revision of certain 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. This notice solicits comments on the collection of information mandated by Commission regulations 23.600 (Risk Management Program), 23.601 (Monitoring of Position Limits), 23.602 (Diligent Supervision), 23.603 (Business Continuity and Disaster Recovery) 23.606 (General Information: Availability for Disclosure and Inspection), and 23.607 (Antitrust Considerations).
Agency Information Collection Activities: Notice of Intent To Renew Collection Number 3038-0078, Conflicts of Interest Policies and Procedures by Futures Commission Merchants and Introducing Brokers
Document Number: 2019-06940
Type: Notice
Date: 2019-04-09
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is announcing an opportunity for public comment on the proposed renewal of a collection of certain 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. This notice solicits comments on the collections of information mandated by Commission regulation 1.71 (Conflicts of interest policies and procedures by futures commission merchants and introducing brokers).
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0024; Regulations and Forms Pertaining to the Financial Integrity of the Marketplace
Document Number: 2019-06939
Type: Notice
Date: 2019-04-09
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') is announcing an opportunity for public comment on the extension of a collection of certain 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 proposed revision of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the obligation of registrants to provide records related to their minimum financial requirements.
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0009, Large Trader Reports
Document Number: 2019-06938
Type: Notice
Date: 2019-04-09
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), 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 large trader reports and related forms.
Agency Information Collection Activities: Notice of Intent To Revise Collection 3038-0052; Core Principles and Other Requirements for Designated Contract Markets
Document Number: 2019-06444
Type: Notice
Date: 2019-04-03
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') is announcing an opportunity for public comment on the proposed revision of a collection of certain 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 proposed revision of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the revision of estimates contained in information collection requirements related to the recent amendment of the timing and scope of a report required to be filed by self- regulatory organizations (SROs) pursuant to Commission Regulation 1.52.
Financial Surveillance Examination Program Requirements for Self-Regulatory Organizations
Document Number: 2019-06443
Type: Rule
Date: 2019-04-03
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is amending its regulations governing the minimum standards for a self-regulatory organization's (``SRO'') financial surveillance examination program of futures commission merchants (``FCMs''). The amendments revise the scope of a third-party expert's evaluation of the SRO's financial surveillance program to cover only the examination standards used by SRO staff in conducting FCM examinations. The amendments also extend the minimum timeframes from three years to five years between when an SRO must engage a third-party expert to evaluate its FCM examination standards for consistency with applicable auditing standards. The amendments should reduce the costs associated with the operation of a financial surveillance program, while also providing effective third-party evaluation of the FCM examination standards.
Segregation of Assets Held as Collateral in Uncleared Swap Transactions
Document Number: 2019-06424
Type: Rule
Date: 2019-04-03
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is amending selected provisions of its regulations to simplify certain requirements for swap dealers (``SDs'') and major swap participants (``MSPs'') concerning notification of counterparties of their right to segregate initial margin for uncleared swaps, and to modify requirements for the handling of segregated initial margin.
Comparability Determination for Australia: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2019-06319
Type: Rule
Date: 2019-04-03
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is the analysis and determination of the Commodity Futures Trading Commission (``Commission'') regarding a request by the Australian Prudential Regulation Authority (``APRA'') that the Commission determine that laws and regulations applicable in Australia provide a sufficient basis for an affirmative finding of comparability with respect to margin requirements for uncleared swaps applicable to certain swap dealers (``SDs'') and major swap participants (``MSPs'') registered with the Commission. As discussed in detail herein, the Commission has found the margin requirements for uncleared swaps under the laws and regulations of Australia comparable to those under the Commodity Exchange Act (``CEA'') and Commission regulations.
Agency Information Collection Activities Under OMB Review
Document Number: 2019-06168
Type: Notice
Date: 2019-04-01
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In compliance with the Paperwork Reduction Act of 1995 (PRA), this notice announces that the Information Collection Request (``ICR'') abstracted below has been forwarded to the Office of Management and Budget (``OMB'') for review and comment. The ICR describes the nature of the information collection and its expected costs and burdens.
Agency Information Collection Activities Notice of Intent to Renew Collection 3038-0061: Daily Trade and Supporting Data Reports
Document Number: 2019-06153
Type: Notice
Date: 2019-04-01
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) is announcing an opportunity for public comment on the proposed renewal of a collection of certain 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 proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the daily trade and supporting data reports that are submitted to CFTC pursuant to Commission Rule 16.02. This part imposes reporting requirements on Reporting Markets, including Designated Contract Markets.
Amendment to Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2019-06152
Type: Rule
Date: 2019-04-01
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The following is an amendment (this ``Amendment'') to the Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants of the Commodity Futures Trading Commission (``Commission'' or ``CFTC'') published on September 15, 2016 (the ``Japan Determination''). This Amendment amends the Japan Determination by: Making a positive determination of comparability with respect to the scope of entities subject to margin requirements, and making a positive determination of comparability with respect to the treatment of inter-affiliate transactions. All other findings and determinations contained in the Japan Determination remain unchanged and in full force and effect.
De Minimis Exception to the Swap Dealer Definition-Swaps Entered Into by Insured Depository Institutions in Connection With Loans to Customers
Document Number: 2019-06109
Type: Rule
Date: 2019-04-01
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is amending the de minimis exception within the ``swap dealer'' definition in the Commission's regulations by establishing as a factor in the de minimis threshold determination whether a given swap has specified characteristics of swaps entered into by insured depository institutions in connection with loans to customers.
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2019-06103
Type: Rule
Date: 2019-04-01
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The United Kingdom (``UK'') has provided formal notice of its intention to withdraw from the European Union (``EU''). The withdrawal may happen as soon as April 12, 2019 and may transpire without a negotiated agreement between the UK and EU (``No-deal Brexit''). To the extent there is a No-deal Brexit, affected swap dealers (``SDs'') and major swap participants (``MSPs'') may need to effect legal transfers of uncleared swaps that were entered into before the relevant compliance dates under the CFTC Margin Rule or Prudential Margin Rule (each, as defined herein) and that are not now subject to such rules, in whole or in part. The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting, and invites comments on, an interim final rule amending its margin requirements for uncleared swaps for SDs and MSPs for which there is no prudential regulator (``CFTC Margin Rule'') such that the date used for purposes of determining whether an uncleared swap was entered into prior to an applicable compliance date will not change under the CFTC Margin Rule if the swap is transferred, and thereby amended, in accordance with the terms of the interim final rule in respect of any such transfer, including that the transfer be made solely in connection with a party to the swap's planning for or response to a No-deal Brexit. The interim final rule is designed to allow an uncleared swap to retain its legacy status under the CFTC Margin Rule or Prudential Margin Rule when so transferred.
Agricultural Advisory Committee
Document Number: 2019-05756
Type: Notice
Date: 2019-03-26
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on Thursday, April 11, 2019, from 8:30 a.m. to 12 p.m. Central Time, the Agricultural Advisory Committee (AAC) will hold a public meeting at the Marriott Kansas City Overland Park, 10800 Metcalf Avenue, Overland Park, Kansas 66210. At this meeting, the AAC will discuss items related to futures commission merchants (FCMs), innovations in agricultural cash markets and futures market operations, as well as identify work streams and/or subcommittee groups that can help generate actionable recommendations to the Commission on select issues.
Sunshine Act Meetings
Document Number: 2019-05221
Type: Notice
Date: 2019-03-19
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Global Markets Advisory Committee
Document Number: 2019-04741
Type: Notice
Date: 2019-03-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on April 15, 2019, from 10:00 a.m. to 4:00 p.m., the Global Markets Advisory Committee (GMAC) will hold a public meeting in the Conference Center at the CFTC's headquarters in Washington, DC. At this meeting, the GMAC will hear presentations on how regulators are fulfilling a 2009 G20 directive regarding the OTC derivatives market.
Revised Registration Form 7-R
Document Number: 2019-04297
Type: Notice
Date: 2019-03-11
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (the ``Commission'' or ``CFTC'') is revising its Form 7-R, the application form that entities must use to register with the Commission as a commodity pool operator, commodity trading advisor, introducing broker, floor trader firm, retail foreign exchange dealer, futures commission merchant, leverage transaction merchant, swap dealer, or major swap participant (collectively, ``applicants'').
Agency Information Collection Activities: Notice of Intent To Extend and Revise Collections 3038-0023 and 3038-0072; Adoption of Revised Registration Form 7-R
Document Number: 2019-04296
Type: Notice
Date: 2019-03-11
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or the ``Commission'') is announcing an opportunity for public comment on the proposed extension and revision to the collection of certain information by the Commission. Under the Paperwork Reduction Act (``PRA''), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information and to allow 60 days for public comment. The Commission revised its Form 7- R, the application form that entities that engage in certain specified business activities in the derivatives markets regulated by the Commission must use to register with the Commission. This notice solicits comments on the PRA implications of the revisions to Form 7-R, including comments that address the burdens associated with the modified information collection requirements of the revised Form 7-R.
Sunshine Act Meetings
Document Number: 2019-04272
Type: Notice
Date: 2019-03-07
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Sunshine Act Meetings
Document Number: 2019-03768
Type: Notice
Date: 2019-03-01
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Agency Information Collection Activities Under OMB Review
Document Number: 2019-03371
Type: Notice
Date: 2019-02-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In compliance with the Paperwork Reduction Act of 1995 (``PRA''), this notice announces that the Information Collection Request (``ICR'') abstracted below has been forwarded to the Office of Management and Budget (``OMB'') for review and comment. The ICR describes the nature of the information collection and its expected costs and burden.
Agricultural Advisory Committee
Document Number: 2019-02506
Type: Notice
Date: 2019-02-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC or Commission) is requesting nominations for membership on the Agricultural Advisory Committee (AAC or Committee) and also inviting the submission of potential topics for discussion at future Committee meetings. The AAC is a discretionary advisory committee established by the Commission in accordance with the Federal Advisory Committee Act (FACA).
Technology Advisory Committee
Document Number: 2019-02494
Type: Notice
Date: 2019-02-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on March 27, 2019, from 10:00 a.m. to 3:30 p.m., the Technology Advisory Committee (TAC) will hold a public meeting in the Conference Center at the Commodity Futures Trading Commission's headquarters in Washington, DC. At this meeting, the TAC will hear presentations and actionable recommendations from the TAC subcommittees on Automated and Modern Trading Markets, Distributed Ledger Technology and Market Infrastructure, Virtual Currencies, and Cyber Security; and hear about research findings on automated orders in the futures and options markets from the CFTC's Division of Market Oversight.
Swap Execution Facilities and Trade Execution Requirement
Document Number: 2019-01668
Type: Proposed Rule
Date: 2019-02-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') is extending the comment period for a proposed rule regarding swap execution facilities and the trade execution requirement (the ``SEF NPRM'') that published November 30, 2018 in the Federal Register.
Post-Trade Name Give-Up on Swap Execution Facilities
Document Number: 2019-01667
Type: Proposed Rule
Date: 2019-02-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') is extending the comment period for a request for public comment regarding the practice of ``post-trade name give-up'' on swap execution facilities (the ``Name Give-Up Request for Comment'') that published November 30, 2018 in the Federal Register.
Annual Adjustment of Civil Monetary Penalties To Reflect Inflation-2019
Document Number: 2019-01852
Type: Rule
Date: 2019-02-11
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is amending its rules governing the maximum amount of civil monetary penalties to adjust for inflation. This rule sets forth the maximum, inflation-adjusted dollar amount for civil monetary penalties (CMPs) assessable for violations of the Commodity Exchange Act (CEA) and Commission rules, regulations and orders thereunder. The rule, as amended, implements the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended.
Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests In, and Relationships With, Hedge Funds and Private Equity Funds
Document Number: 2019-00797
Type: Proposed Rule
Date: 2019-02-08
Agency: Commodity Futures Trading Commission, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Securities and Exchange Commission, Department of Treasury, Office of the Comptroller of the Currency
The OCC, Board, FDIC, SEC, and CFTC (individually, an Agency, and collectively, the Agencies) are inviting comment on a proposal to amend the regulations implementing the Bank Holding Company Act's (BHC Act) prohibitions and restrictions on proprietary trading and certain interests in, and relationships with, hedge funds and private equity funds in a manner consistent with the statutory amendments made pursuant to certain sections of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The statutory amendments exclude from these restrictions certain firms that have total consolidated assets equal to $10 billion or less and total trading assets and liabilities equal to five percent or less of total consolidated assets and amend the restrictions applicable to the naming of a hedge fund or private equity fund to permit an investment adviser that is a banking entity to share a name with the fund under certain circumstances.
Request for Input on Crypto-Asset Mechanics and Markets
Document Number: 2018-27167
Type: Notice
Date: 2018-12-17
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') in furtherance of the LabCFTC initiative is seeking public comment and feedback on this Request for Input (``RFI'') in order to better inform the Commission's understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin, namely here Ether and its use on the Ethereum Network. The Commodity Exchange Act (``CEA'') grants the Commission regulatory authority over the commodity futures markets. The Commission is seeking public feedback in furtherance of oversight of these markets and regulatory policy development. The input from this request will advance the CFTC's mission of ensuring the integrity of the derivatives markets as well as monitoring and reducing systemic risk by enhancing legal certainty in the markets. The RFI seeks to understand similarities and distinctions between certain virtual currencies, including here Ether and Bitcoin, as well as Ether-specific opportunities, challenges, and risks. The Commission welcomes all public comments on these and related issues.
Fees for Reviews of the Rule Enforcement Programs of Designated Contract Markets and Registered Futures Associations
Document Number: 2018-27042
Type: Notice
Date: 2018-12-13
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') charges fees to designated contract markets and registered futures associations to recover the costs incurred by the Commission in the operation of its program of oversight of self- regulatory organization rule enforcement programs, specifically National Futures Association (``NFA''), a registered futures association, and the designated contract markets. Fees collected from each self-regulatory organization are deposited in the Treasury of the United States as miscellaneous receipts. The calculation of the fee amounts charged for 2018 by this notice is based upon an average of actual program costs incurred during fiscal year (FY) 2015, FY 2016, and FY 2017.
Agency Information Collection Activities Under OMB Review
Document Number: 2018-26848
Type: Notice
Date: 2018-12-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In compliance with the Paperwork Reduction Act of 1995 (PRA), this notice announces that the Information Collection Request (``ICR'') abstracted below has been forwarded to the Office of Management and Budget (``OMB'') for review and comment. The ICR describes the nature of the information collection and its expected costs and burdens.
Privacy of Consumer Financial Information-Amendment To Conform Regulations to the Fixing America's Surface Transportation Act
Document Number: 2018-26523
Type: Proposed Rule
Date: 2018-12-10
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is proposing to revise its regulations requiring covered persons to provide annual privacy notices to customers. The proposed revisions implement the Fixing America's Surface Transportation Act's (``FAST Act'') December 2015 statutory amendment to the Gramm-Leach-Bliley Act (``GLB Act'') by providing an exception to the annual notice requirement under certain conditions.
Sunshine Act Meetings
Document Number: 2018-26553
Type: Notice
Date: 2018-12-06
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Post-Trade Name Give-Up on Swap Execution Facilities
Document Number: 2018-24643
Type: Proposed Rule
Date: 2018-11-30
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission or CFTC) is requesting public comment regarding the practice of ``post-trade name give-up'' on swap execution facilities.
Swap Execution Facilities and Trade Execution Requirement
Document Number: 2018-24642
Type: Proposed Rule
Date: 2018-11-30
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing amendments to regulations relating to the trade execution requirement under the Commodity Exchange Act (``CEA'' or ``Act'') and amendments to existing regulations relating to swap execution facilities (``SEFs'') and designated contract markets (``DCMs''). Among other amendments, the proposed rules apply the SEF registration requirement to certain swaps broking entities and aggregators of single-dealer platforms; broaden the scope of the trade execution requirement to include all swaps subject to the clearing requirement under the Act that a SEF or a DCM lists for trading; allow SEFs to offer flexible execution methods for all swaps that they list for trading; amend straight-through processing requirements; and amend the block trade definition. The proposed rules, which also include non- substantive amendments and various conforming changes to other Commission regulations, reflect the Commission's enhanced knowledge and experience with swaps trading characteristics and would further the Dodd-Frank Act's statutory goals for SEFs, i.e., promote more SEF trading and pre-trade price transparency in the swaps market. Further, the proposed rules are intended to strengthen the existing swaps regulatory framework by reducing unnecessary complexity, costs, and other burdens that impede SEF development, innovation, and growth.
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2018-25602
Type: Rule
Date: 2018-11-26
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting amendments (``Final Rule'') to its margin requirements for uncleared swaps for swap dealers (``SD'') and major swap participants (``MSP'') for which there is no prudential regulator (``CFTC Margin Rule''). The Commission is adopting these amendments in light of the rules recently adopted by the Board of Governors of the Federal Reserve System (``Board''), the Federal Deposit Insurance Corporation (``FDIC''), and the Office of the Comptroller of the Currency (``OCC'') (collectively, the ``QFC Rules'') that impose restrictions on certain uncleared swaps and uncleared security-based swaps and other financial contracts. Specifically, the Commission is amending the definition of ``eligible master netting agreement'' in the CFTC Margin Rule to ensure that master netting agreements of firms subject to the CFTC Margin Rule are not excluded from the definition of ``eligible master netting agreement'' based solely on such agreements' compliance with the QFC Rules. The Commission also is amending the CFTC Margin Rule such that any legacy uncleared swap (i.e., an uncleared swap entered into before the applicable compliance date of the CFTC Margin Rule) that is not now subject to the margin requirements of the CFTC Margin Rule will not become so subject if it is amended solely to comply with the QFC Rules. These amendments are consistent with amendments that the Board, FDIC, OCC, the Farm Credit Administration (``FCA''), and the Federal Housing Finance Agency (``FHFA'' and, together with the Board, FDIC, OCC, and FCA, the ``Prudential Regulators''), jointly published in the Federal Register on October 10, 2018.
Market Risk Advisory Committee
Document Number: 2018-25159
Type: Notice
Date: 2018-11-19
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on December 4, 2018, from 9:30 a.m. to 4:00 p.m., the Market Risk Advisory Committee (MRAC) will hold a public meeting in the Conference Center at the CFTC's Washington, DC, headquarters. At this meeting, the MRAC will discuss: (1) The current state of clearinghouse risk management and governance and what lies ahead, (2) the management of non-default losses by clearinghouses in recovery and resolution, (3) recent reports and discussion papers on central clearing by global standard setting bodies, and (4) the oversight of third-party service providers/vendor risk management.
Regulatory Flexibility Agenda
Document Number: 2018-24166
Type: Unknown
Date: 2018-11-16
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission), in accordance with the requirements of the Regulatory Flexibility Act, is publishing a semiannual agenda of rulemakings that the Commission expects to propose or promulgate over the next year. The Commission welcomes comments from small entities and others on the agenda.
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0043, Rules Relating To Review of National Futures Association Decisions in Disciplinary, Membership Denial, Registration, and Member Responsibility Actions
Document Number: 2018-24770
Type: Notice
Date: 2018-11-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'') is announcing an opportunity for public comment on the renewal of a collection of certain 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. This notice solicits comments on rules relating to review of National Futures Association decisions in disciplinary, membership denial, registration, and member responsibility actions.
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0094; Clearing Member Risk Management
Document Number: 2018-24761
Type: Notice
Date: 2018-11-14
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 collection of certain 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 and to allow 60 days for public comment. This notice solicits comments on the obligation to maintain records related to clearing documentation between the customer and the customer's clearing member.
De Minimis Exception to the Swap Dealer Definition
Document Number: 2018-24579
Type: Rule
Date: 2018-11-13
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is amending the de minimis exception within the ``swap dealer'' definition in the Commission's regulations by setting the aggregate gross notional amount threshold for the de minimis exception at $8 billion in swap dealing activity entered into by a person over the preceding 12 months.
Agency Information Collection Activities Under OMB Review
Document Number: 2018-23539
Type: Notice
Date: 2018-10-29
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In compliance with the Paperwork Reduction Act of 1995 (PRA), this notice announces that the Information Collection Request (ICR) abstracted below has been forwarded to the Office of Management and Budget (OMB) for review and comment. The ICR describes the nature of the information collection and its expected costs and burden.
Agency Information Collection Activities Under OMB Review
Document Number: 2018-23538
Type: Notice
Date: 2018-10-29
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In compliance with the Paperwork Reduction Act of 1995 (PRA), this notice announces that the Information Collection Request (ICR) abstracted below has been forwarded to the Office of Management and Budget (OMB) for review and comment. The ICR describes the nature of the information collection and its expected costs and burden.
Sunshine Act Meetings
Document Number: 2018-23254
Type: Notice
Date: 2018-10-23
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Registration and Compliance Requirements for Commodity Pool Operators and Commodity Trading Advisors
Document Number: 2018-22324
Type: Proposed Rule
Date: 2018-10-18
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC or Commission)
Request for Nominations for the Interest Rate Benchmark Reform Subcommittee Under the Market Risk Advisory Committee
Document Number: 2018-21408
Type: Notice
Date: 2018-10-02
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC or Commission) is requesting nominations for membership on the Interest Rate Benchmark Reform Subcommittee (Subcommittee) under the Market Risk Advisory Committee (MRAC). The MRAC is a discretionary advisory committee established by the Commission in accordance with the Federal Advisory Committee Act.