Commodity Futures Trading Commission – Federal Register Recent Federal Regulation Documents

Results 1 - 50 of 1,842
Registration With Alternative Compliance for Non-U.S. Derivatives Clearing Organizations
Document Number: 2020-21306
Type: Rule
Date: 2020-10-21
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is adopting regulations that will permit derivatives clearing organizations (DCOs) organized outside of the United States (hereinafter referred to as ``non-U.S. DCOs'') to be registered with the Commission yet comply with the core principles applicable to DCOs set forth in the Commodity Exchange Act (CEA) through compliance with their home country regulatory regimes, subject to certain conditions and limitations. The Commission is also amending certain related delegation provisions in its regulations.
Sunshine Act Meetings
Document Number: 2020-23249
Type: Notice
Date: 2020-10-20
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Agency Information Collection Activities: Notice of Intent To Revise Collection, Comment Request: Adoption of Revised Notice of Exemption
Document Number: 2020-23168
Type: Notice
Date: 2020-10-20
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In compliance with the Paperwork Reduction Act of 1995, this notice announces that the Information Collection Request (ICR) abstracted below has been forward to the Office of Information and Regulatory Affairs (OIRA), of 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.
Sunshine Act Meetings
Document Number: 2020-22759
Type: Notice
Date: 2020-10-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Public Availability of Fiscal Year 2018 Service Contract Inventory
Document Number: 2020-22673
Type: Notice
Date: 2020-10-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) is publishing this notice to advise the public of the availability of CFTC's Fiscal Year 2018 Service Contract Inventory.
Sunshine Act Meetings
Document Number: 2020-21912
Type: Notice
Date: 2020-10-02
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Privacy Act of 1974; System of Records
Document Number: 2020-21423
Type: Notice
Date: 2020-09-29
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is establishing CFTC-54, Ensuring Workplace Health and Safety in Response to a Public Health Emergency, a system of records under the Privacy Act of 1974. This system of records maintains information collected in response to a public health emergency, such as a pandemic or epidemic, from CFTC staff (including political appointees, employees, detailees, contractors, consultants, interns, and volunteers) and visitors to CFTC facilities that is necessary to ensure a safe and healthy work environment.
Request for Nominations for a Subcommittee Under the Agricultural Advisory Committee
Document Number: 2020-21396
Type: Notice
Date: 2020-09-29
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC or Commission) is requesting nominations for membership on the Subcommittee to Evaluate Commission Policy with Respect to Implementation of Amendments to Enumerated Agricultural Futures Contracts with Open Interest (Subcommittee) under the Agricultural Advisory Committee (AAC). The AAC is a discretionary advisory committee established by the Commission in accordance with the Federal Advisory Committee Act.
Agency Information Collection Activities Under OMB Review
Document Number: 2020-21224
Type: Notice
Date: 2020-09-25
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 Information and Regulatory Affairs (OIRA), of 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.
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds; Correction
Document Number: 2020-21100
Type: Rule
Date: 2020-09-25
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 (together, the agencies) are issuing this correction to make technical corrections to the Federal Register rule adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act published on July 31, 2020.
Sunshine Act Meetings
Document Number: 2020-21131
Type: Notice
Date: 2020-09-24
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Agency Information Collection Activities Under OMB Review
Document Number: 2020-21097
Type: Notice
Date: 2020-09-24
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 Under OMB Review
Document Number: 2020-21096
Type: Notice
Date: 2020-09-24
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 Information and Regulatory Affairs (OIRA), of 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.
Bankruptcy Regulations
Document Number: 2020-21005
Type: Proposed Rule
Date: 2020-09-24
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In April of 2020, the Commodity Futures Trading Commission (the ``Commission'') proposed amendments to its regulations governing bankruptcy proceedings of commodity brokers. In light of comments on the proposed amendments, the Commission is proposing a revision of the proposed amendments with respect to a particular issue, specifically, efforts to foster a resolution proceeding under Title II of the Dodd- Frank Act.
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2020-18303
Type: Proposed Rule
Date: 2020-09-23
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to amend the margin requirements for uncleared swaps for swap dealers (``SDs'') and major swap participants (``MSPs'') for which there is no prudential regulator (``CFTC Margin Rule''). In particular, the Commission is proposing to revise the calculation method for determining whether certain entities come within the scope of the initial margin (``IM'') requirements under the CFTC Margin Rule beginning on September 1, 2021, and the timing for compliance with the IM requirements after the end of the phased compliance schedule. The proposed amendment would align certain aspects of the CFTC Margin Rule with the Basel Committee on Banking Supervision and Board of the International Organization of Securities Commissions' (``BSBS/IOSCO'') Framework for margin requirements for non-centrally cleared derivatives (``BCBS/IOSCO Framework''). The Commission is also proposing to allow SDs and MSPs subject to the CFTC Margin Rule to use the risk-based model calculation of IM of a counterparty that is a CFTC-registered SD or MSP to determine the amount of IM to be collected from the counterparty and to determine whether the IM threshold amount for the exchange of IM has been exceeded such that documentation concerning the collection, posting, and custody of IM would be required.
Renewal of the Technology Advisory Committee
Document Number: 2020-20903
Type: Notice
Date: 2020-09-22
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is publishing this notice to announce the renewal of the Technology Advisory Committee (TAC). The Commission has determined that the renewal of the TAC is necessary and in the public's interest, and the Commission has consulted with the General Services Administration's Committee Management Secretariat regarding the TAC's renewal.
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2020-18222
Type: Proposed Rule
Date: 2020-09-22
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to amend the margin requirements for uncleared swaps for swap dealers (``SD'') and major swap participants (``MSP'') for which there is no prudential regulator. The proposed amendments would permit the application of separate minimum transfer amounts (``MTA'') for initial margin (``IM'') and variation margin (``VM''), and the application of an MTA of up to $50,000 for separately managed accounts (``SMA'') (together, ``Proposal'').
Renewal of the Global Markets Advisory Committee
Document Number: 2020-20425
Type: Notice
Date: 2020-09-16
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is publishing this notice to announce the renewal of the Global Markets Advisory Committee (GMAC). The Commission has determined that the renewal of the GMAC is necessary and in the public's interest, and the Commission has consulted with the General Services Administration's Committee Management Secretariat regarding the GMAC's renewal.
Sunshine Act Meetings
Document Number: 2020-20367
Type: Notice
Date: 2020-09-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Capital Requirements of Swap Dealers and Major Swap Participants
Document Number: 2020-16492
Type: Rule
Date: 2020-09-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting new regulations imposing minimum capital requirements and financial reporting requirements on swap dealers (``SDs'') and major swap participants (``MSPs'') that are not subject to a prudential regulator. The Commission is also amending existing capital requirements for futures commission merchants (``FCMs'') to provide specific capital deductions for market risk and credit risk for swaps and security-based swaps entered into by an FCM. The Commission is further adopting amendments to its regulations to permit certain entities dually-registered with the Securities and Exchange Commission (``SEC'') to file an SEC Financial and Operational Combined Uniform Single Report in lieu of CFTC financial reports, to require certain Commission registrants to file notices of certain defined events, and to require notices of bulk transfers to be filed with the Commission electronically and within a defined period of time.
Cross-Border Application of the Registration Thresholds and Certain Requirements Applicable to Swap Dealers and Major Swap Participants
Document Number: 2020-16489
Type: Rule
Date: 2020-09-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting a final rule (``Final Rule'') addressing the cross-border application of certain swap provisions of the Commodity Exchange Act (``CEA or ``Act''), as added by Title VII of the Dodd- Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act''). The Final Rule addresses the cross-border application of the registration thresholds and certain requirements applicable to swap dealers (``SDs'') and major swap participants (``MSPs''), and establishes a formal process for requesting comparability determinations for such requirements from the Commission. The Final Rule adopts a risk-based approach that, consistent with the applicable section of the CEA, and with due consideration of international comity principles and the Commission's interest in focusing its authority on potential significant risks to the U.S. financial system, advances the goals of the Dodd-Frank Act's swap reforms, while fostering greater liquidity and competitive markets, promoting enhanced regulatory cooperation, and improving the global harmonization of swap regulation.
Agricultural Advisory Committee
Document Number: 2020-19775
Type: Notice
Date: 2020-09-08
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on September 24, 2020, from 2:00 p.m. to 5:00 p.m. (Eastern Daylight Time), the Agricultural Advisory Committee (AAC) will hold a public meeting via teleconference. At this meeting, the AAC will receive updates from the Livestock Task Force, the second quarter National Farm Loan data and the impending launch of a Brazil-based Soybean futures contract. The meeting will also include a discussion regarding the Division of Enforcement's Self-Reporting Program and the role of intermediaries and the National Futures Association in protecting market participants from fraud.
Sunshine Act Meetings
Document Number: 2020-19797
Type: Notice
Date: 2020-09-04
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Renewal of the Agricultural Advisory Committee
Document Number: 2020-19077
Type: Notice
Date: 2020-08-31
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is publishing this notice to announce the renewal of the Agricultural Advisory Committee (AAC). The Commission has determined that the renewal of the AAC is necessary and in the public's interest, and the Commission has consulted with the General Services Administration's Committee Management Secretariat regarding the AAC's renewal.
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0103, Ownership and Control Reports, Forms 102/102S, 40/40S, and 71 (Trader and Account Identification Reports)
Document Number: 2020-18118
Type: Notice
Date: 2020-08-19
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 the 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 in connection with information collection requirements under certain rules and related forms (the ``final rules'') that the Commission adopted to enhance its identification of futures and swap market participants.
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0059: Part 41, Relating to Security Futures Products
Document Number: 2020-18039
Type: Notice
Date: 2020-08-18
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``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, 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.
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0092, Customer Clearing Documentation and Timing of Acceptance for Clearing
Document Number: 2020-17896
Type: Notice
Date: 2020-08-17
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is announcing an opportunity for public comment on the extension of the 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 obligation to maintain records related to clearing documentation between the customer and the customer's clearing member.
Agency Information Collection Activities: Notice of Intent To Renew Collection; 3038-0097, Process for Review of Swaps for Mandatory Clearing
Document Number: 2020-17892
Type: Notice
Date: 2020-08-17
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``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 each proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on reporting and recordkeeping requirements relating to information management requirements for derivatives clearing organizations.
Agency Information Collection Activities: Notice of Intent To Revise Collection 3038-0005, Adoption of Revised Notice of Exemption Under Regulation 4.13(b)(1)
Document Number: 2020-17046
Type: Notice
Date: 2020-08-05
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 recent 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 regulation requiring the filing of a notice of exemption by persons seeking to claim relief from registration as a commodity pool operator (CPO). This Federal Register notice solicits comments on the PRA implications of the revision to that required notice of exemption, including comments addressing adjustments in burden to the relevant information collection requirement of the revised exemption notice.
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
Document Number: 2020-15525
Type: Rule
Date: 2020-07-31
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 (together, the agencies) are adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act (BHC Act). Section 13 contains certain restrictions on the ability of a banking entity or nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund (covered funds). These final amendments are intended to improve and streamline the regulations implementing section 13 of the BHC Act by modifying and clarifying requirements related to the covered fund provisions of the rules.
Post-Trade Name Give-Up on Swap Execution Facilities
Document Number: 2020-14343
Type: Rule
Date: 2020-07-24
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC or Commission) is issuing a final rule to prohibit post-trade name give-up for swaps executed, pre-arranged, or pre-negotiated anonymously on or pursuant to the rules of a swap execution facility (SEF) and intended to be cleared. The final rule provides an exception for package transactions that include a component transaction that is not a swap intended to be cleared, including but not limited to U.S. Treasury swap spreads.
Exemption From the Swap Clearing Requirement for Certain Affiliated Entities-Alternative Compliance Frameworks for Anti-Evasionary Measures
Document Number: 2020-14390
Type: Rule
Date: 2020-07-22
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission or CFTC) is adopting amendments to Commission regulation 50.52, which exempts certain affiliated entities within a corporate group from the swap clearing requirement under the applicable provision of the Commodity Exchange Act (CEA or Act). These amendments concern the anti-evasionary condition that swaps subject to the clearing requirement entered into with unaffiliated counterparties either be cleared or be eligible for an exception to or exemption from the clearing requirement. Specifically, the amendments make permanent certain temporary alternative compliance frameworks intended to make this anti-evasionary condition workable for international corporate groups in the absence of foreign clearing regimes determined to be comparable to CFTC requirements.
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0079: Swap Dealer and Major Swap Participant Conflicts of Interest and Business Conduct Standards With Counterparties
Document Number: 2020-15604
Type: Notice
Date: 2020-07-20
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 proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the information collections included in Subpart H of Part 23 of the Commission's regulations and Commission regulation 23.605, requiring swap dealers (SDs) and major swap participants (MSPs) to follow specified procedures and provide specified disclosures in their dealings with counterparties, to adopt and implement conflicts of interest procedures and disclosures, and to maintain specified records related to those requirements.
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0091: Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral
Document Number: 2020-15466
Type: Notice
Date: 2020-07-17
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 proposed extension of the existing collection of information relating to Cleared Swaps Customer Collateral.
Sunshine Act Meetings
Document Number: 2020-15429
Type: Notice
Date: 2020-07-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Regulation Automated Trading; Withdrawal
Document Number: 2020-14383
Type: Proposed Rule
Date: 2020-07-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
On December 17, 2015, the Commodity Futures Trading Commission (``CFTC'' or the ``Commission'') published a notice of proposed rulemaking, Regulation Automated Trading (``Regulation AT NPRM''). On November 25, 2016, the Commission issued a supplemental notice of proposed rulemaking to modify certain rules in the Regulation AT NPRM (``Supplemental Regulation AT NPRM''). In light of feedback the Commission received in response to the Regulation AT NPRM and Supplemental Regulation AT NPRM (together, the ``Regulation AT NPRMs''), the Commission has determined to withdraw the Regulation AT NPRMs and reject certain policy approaches relating to the regulation of automated trading contained therein.
Electronic Trading Risk Principles
Document Number: 2020-14381
Type: Proposed Rule
Date: 2020-07-15
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is proposing amendments to its regulations to address the potential risk of a designated contract market's (``DCM'') trading platform experiencing a disruption or system anomaly due to electronic trading. The proposed regulations consist of three principles applicable to DCMs concerning: The implementation of exchange rules applicable to market participants to prevent, detect, and mitigate market disruptions and system anomalies associated with electronic trading; the implementation of exchange-based pre-trade risk controls for all electronic orders; and the prompt notification of the Commission by DCMs of any significant disruptions to their electronic trading platforms. The proposed regulations are accompanied by proposed acceptable practices (``Acceptable Practices''), which provide that a DCM can comply with these principles by adopting and implementing rules and risk controls that are reasonably designed to prevent, detect, and mitigate market disruptions and system anomalies associated with electronic trading.
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2020-14254
Type: Proposed Rule
Date: 2020-07-10
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is seeking comment on a proposed amendment to the margin requirements for uncleared swaps for swap dealers (``SD'') and major swap participants (``MSP'') for which there is no prudential regulator (the ``CFTC Margin Rule''). As adopted in January 2016, the CFTC Margin Rule, which mandates the collection and posting of variation margin and initial margin (``IM''), was to take effect under a phased compliance schedule extending from September 1, 2016, to September 1, 2020. On April 9, 2020, the Commission published in the Federal Register a final rule extending the September 1, 2020 compliance date by one year to September 1, 2021, for a portion of what was to be the final phase consisting of entities with smaller average daily aggregate notional amounts of swaps and certain other financial products (the ``Smaller Portfolio Group'') to reduce the potential market disruption that could result from a large number of entities coming into the scope of compliance on September 1, 2020 (``April 2020 Final Rule''). Subsequently, on May 28, 2020, to mitigate the operational challenges faced by certain entities subject to the CFTC Margin Rule as a result of the coronavirus disease 2019 (``COVID-19'') pandemic, the Commission adopted an interim final rule (the ``IFR'') extending the September 1, 2020 compliance date for certain entities by one year (``IFR Extension Group'') to September 1, 2021. This rulemaking proposal (``Proposal'') would further delay the compliance date for the Smaller Portfolio Group from September 1, 2021, to September 1, 2022, to avoid market disruption due to a large number of entities being required to comply by September 1, 2021, under the revised compliance schedule.
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2020-12033
Type: Rule
Date: 2020-07-10
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting and invites comment on an interim final rule amending its margin requirements for uncleared swaps for swap dealers (``SDs'') and major swap participants (``MSPs'') for which there is no prudential regulator (``CFTC Margin Rule''). The Commission is revising the compliance schedule for the posting and collection of initial margin under the CFTC Margin Rule to defer the compliance date of September 1, 2020, to September 1, 2021 (``Interim Final Rule''). The Commission is issuing the Interim Final Rule to address the operational challenges faced by certain entities subject to the CFTC Margin Rule as a result of the coronavirus disease 2019 (``COVID-19'') pandemic, consistent with the recent revision of the Basel Committee on Banking Supervision and Board of the International Organization of Securities Commissions (together, ``BCBS/IOSCO'') implementation schedule for margin requirements for non-centrally-cleared derivatives.
Registration and Compliance Requirements for Commodity Pool Operators and Commodity Trading Advisors: Prohibiting Exemptions on Behalf of Persons Subject to Certain Statutory Disqualifications
Document Number: 2020-12607
Type: Rule
Date: 2020-07-08
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC or Commission) is adopting as final (Final Rule) an amendment to Regulation 4.13, which contains the regulations applicable to commodity pool operators (CPOs) and commodity trading advisors. The Final Rule generally prohibits persons who have, or whose principals have, in their backgrounds any of the statutory disqualifications listed in section 8a(2) of the Commodity Exchange Act (CEA or the Act) from claiming a CPO registration exemption under Regulation 4.13. Specifically, the Final Rule will require any person filing a notice claiming such exemption to represent that, subject to limited exceptions, neither the claimant nor any of its principals has in their backgrounds a CEA section 8a(2) disqualification that would require disclosure, if the claimant sought registration with the Commission.
Market Risk Advisory Committee
Document Number: 2020-14378
Type: Notice
Date: 2020-07-06
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on July 21, 2020, from 9:30 a.m. to 1:30 p.m. (Eastern Daylight Time), the Market Risk Advisory Committee (MRAC) will hold a public meeting via teleconference. At this meeting, the MRAC will receive status reports from its subcommittees: Climate-related Market Risk, CCP Risk and Governance, Market Structure, and Interest Rate Benchmark Reform. The meeting will also include a discussion regarding market activity during the early months of the COVID-19 pandemic.
Agency Information Collection Activities Under OMB Review
Document Number: 2020-14127
Type: Notice
Date: 2020-07-01
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 Information and Regulatory Affairs (OIRA), of 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.
Technology Advisory Committee
Document Number: 2020-13905
Type: Notice
Date: 2020-06-29
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on July 16, 2020, from 10:00 a.m. to 2:00 p.m., the Technology Advisory Committee (TAC) will hold a public meeting via teleconference. At this meeting, the TAC will hear presentations from the TAC subcommittees on Automated and Modern Trading Markets, Distributed Ledger Technology and Market Infrastructure, Virtual Currencies, and Cyber Security.
Agency Information Collection Activities: Notice of Intent To Revise Collections, Comment Request: Adoption of Revised Registration Form 8-R
Document Number: 2020-13466
Type: Notice
Date: 2020-06-24
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 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 8-R, the application form that individuals use to register with the Commission or to be listed as a principal. This notice solicits comments on the PRA implications of the revisions to Form 8-R, including comments that address the burdens associated with the modified information collection requirements of the revised Form 8-R.
Adoption of Revised Registration Form 8-R
Document Number: 2020-13465
Type: Notice
Date: 2020-06-24
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (the ``Commission'' or ``CFTC'') is revising its Form 8-R, the application form that individuals must use to register with the Commission as an associated person of a registrant, floor broker, or floor trader, or to be listed as a principal of a registrant (collectively, ``applicants''). These revisions, which are essentially technical and non-substantive in nature, have been adopted to assist the National Futures Association (``NFA'') in the performance of the registration functions authorized by the Commission, and in the implementation and operation of NFA's program to register and regulate directly the associated persons sponsored by members of NFA.
Retail Commodity Transactions Involving Certain Digital Assets
Document Number: 2020-11827
Type: Rule
Date: 2020-06-24
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (the ``Commission'' or ``CFTC'') is issuing this final interpretive guidance concerning the term ``actual delivery'' as set forth in the Commodity Exchange Act (``CEA'') pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act''). Specifically, this final interpretive guidance is being issued to inform the public of the Commission's views when determining whether actual delivery has occurred in the context of retail commodity transactions in certain types of digital assets that serve as a medium of exchange, colloquially known as ``virtual currencies.'' The Commission issues this interpretive guidance after a 90-day comment period and a significant amount of time and effort further observing the development of the digital asset and virtual currency marketplace.
Sunshine Act Meetings
Document Number: 2020-13572
Type: Notice
Date: 2020-06-23
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Exemption From Registration for Certain Foreign Persons Acting as Commodity Pool Operators of Offshore Commodity Pools
Document Number: 2020-12034
Type: Proposed Rule
Date: 2020-06-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is proposing to amend the conditions in Commission regulation 3.10(c) under which a person located outside of the United States engaged in the activity of a commodity pool operator (CPO; each person located outside of the United States a non-U.S. CPO) in connection with commodity interest transactions on behalf of persons located outside the United States (collectively, an offshore commodity pool or offshore pool) would qualify for an exemption from CPO registration and regulation with respect to that offshore pool. Specifically, through amendments to Commission regulation 3.10(c), the Commission is proposing that non-U.S. CPOs may claim an exemption from registration with respect to its qualifying offshore commodity pools, while maintaining another exemption from registration, relying on an exclusion, or registering as a CPO with respect to the operation of other commodity pools. The Commission is also proposing to add a safe harbor by which a non-U.S. CPO of an offshore commodity pool may rely upon the proposed exemption in Commission regulation 3.10(c) if they satisfy enumerated factors related to the operation of the offshore commodity pool. Additionally, the Commission is proposing to permit certain U.S. control affiliates of a non-U.S. CPO to contribute capital to such CPO's offshore pools as part of the initial capitalization without rendering the non-U.S. CPO ineligible for the exemption from registration under Commission regulation 3.10.
Derivatives Clearing Organization General Provisions and Core Principles
Document Number: 2020-10809
Type: Rule
Date: 2020-06-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is correcting final rules published in the Federal Register on January 27, 2020 (final rules). The final rules, which amended certain regulations applicable to derivatives clearing organizations (DCOs), took effect on February 26, 2020. This correction amends three provisions of the final rules that were inadvertently modified by operation of the amendatory instructions and rule text in the final rules.
Bankruptcy Regulations
Document Number: 2020-08482
Type: Proposed Rule
Date: 2020-06-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (the ``Commission'') is proposing amendments to its regulations governing bankruptcy proceedings of commodity brokers. The proposed amendments are meant to comprehensively update those regulations to reflect current market practices and lessons learned from past commodity broker bankruptcies.