Commodity Futures Trading Commission – Federal Register Recent Federal Regulation Documents

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Sunshine Act Meetings
Document Number: 2016-26502
Type: Notice
Date: 2016-11-01
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Sunshine Act Meetings
Document Number: 2016-26268
Type: Notice
Date: 2016-10-28
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Agency Information Collection Activities Under OMB Review
Document Number: 2016-25925
Type: Notice
Date: 2016-10-26
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.
Final Order Regarding Southwest Power Pool, Inc. Application To Exempt Specified Transactions; Amendment to the Final Order Exempting Specified Transactions of Certain Independent System Operators and Regional Transmission Organizations
Document Number: 2016-25571
Type: Notice
Date: 2016-10-24
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is issuing a final order in response to an application from Southwest Power Pool, Inc. (``SPP'') to exempt specified transactions from certain provisions of the Commodity Exchange Act (``CEA'' or ``Act'') and Commission regulations. In this release, the Commission is also amending an order issued on March 28, 2013 exempting other specified transactions from certain provisions of the CEA and Commission regulations.
Renewal of the Technology Advisory Committee
Document Number: 2016-25294
Type: Notice
Date: 2016-10-19
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.
Order Establishing De Minimis Threshold Phase-In Termination Date
Document Number: 2016-25143
Type: Rule
Date: 2016-10-18
Agency: Commodity Futures Trading Commission, Agencies and Commissions
With respect to the de minimis exception to the swap dealer definition, the Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is issuing an order (``Order''), pursuant to the applicable Commission regulation, to establish December 31, 2018 as the de minimis threshold phase-in termination date.
Cross-Border Application of the Registration Thresholds and External Business Conduct Standards Applicable to Swap Dealers and Major Swap Participants
Document Number: 2016-24905
Type: Proposed Rule
Date: 2016-10-18
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is publishing for public comment proposed rules and interpretations (``Proposed Rule'') addressing the cross-border application of certain swap provisions of the Commodity Exchange Act (``CEA''). Specifically, the proposed rule defines key terms for purposes of applying the CEA's swap provisions to cross-border transactions and addresses the cross-border application of the registration thresholds and external business conduct standards for swap dealers and major swap participants, including the extent to which they would apply to swap transactions that are arranged, negotiated, or executed using personnel located in the United States.
Clearing Requirement Determination Under Section 2(h) of the Commodity Exchange Act for Interest Rate Swaps
Document Number: 2016-23983
Type: Rule
Date: 2016-10-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission or CFTC) is adopting an amendment to the Commission's regulations to expand the existing clearing requirement for interest rate swaps pursuant to the pertinent section of the Commodity Exchange Act (CEA). The amended regulation requires that interest rate swaps denominated in certain currencies and having certain termination dates, as described herein, be submitted for clearing to a derivatives clearing organization (DCO) that is registered under the CEA (registered DCO) or a DCO that has been exempted from registration under the CEA (exempt DCO).
Sunshine Act Meetings
Document Number: 2016-23886
Type: Notice
Date: 2016-09-30
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Privacy Act of 1974 System of Records Notice
Document Number: 2016-23621
Type: Notice
Date: 2016-09-30
Agency: Commodity Futures Trading Commission, Agencies and Commissions
In accordance with the Privacy Act of 1974, the Commodity Futures Trading Commission (CFTC) is providing notice that it is withdrawing one system of records notice, CFTC-8, ``Employment Applications,'' from its inventory of record systems because the relevant records are covered by an existing government-wide system notice.
Privacy Act of 1974 System of Records Notice
Document Number: 2016-23616
Type: Notice
Date: 2016-09-30
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) is consolidating and revising several notices of systems of records under the Privacy Act of 1974. It is consolidating two system of records notices, CFTC-5, ``Employee Personnel/Payroll Records,'' and CFTC-4, ``Employee Leave, Time, and Attendance,'' into one, CFTC-5, ``Employee Personnel, Payroll, Time and Attendance,'' to reflect more integrated business processes and applications, and to be more descriptive of its contents and enhancements. The Commission also is consolidating three system of records notices, CFTC-34, ``Telecommunications Services,'' CFTC-35, ``Interoffice and Internet Email,'' and CFTC-36, ``Internet Security Gateway Systems,'' into one system of records notice, CFTC-35, entitled ``General Information Technology Records'' to reflect more integrated business processes and applications, and to be more descriptive of its contents and enhancements. The revised CFTC-35, ``General Information Technology Records,'' broadly covers the information in identifiable form needed for the CFTC information technology network to provide communications and operate effectively and securely.
Renewal of the Global Markets Advisory Committee
Document Number: 2016-23351
Type: Notice
Date: 2016-09-28
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.
Agency Information Collection Activities Under OMB Review
Document Number: 2016-22957
Type: Notice
Date: 2016-09-23
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.
Renewal of the Agricultural Advisory Committee
Document Number: 2016-22717
Type: Notice
Date: 2016-09-21
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 Under OMB Review
Document Number: 2016-22481
Type: Notice
Date: 2016-09-19
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.
System Safeguards Testing Requirements for Derivatives Clearing Organizations
Document Number: 2016-22413
Type: Rule
Date: 2016-09-19
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') is adopting enhanced requirements for testing by a derivatives clearing organization (``DCO'') of its system safeguards, as well as additional amendments to reorder and renumber certain paragraphs within the regulations and make other minor changes to improve the clarity of the rule text.
System Safeguards Testing Requirements
Document Number: 2016-22174
Type: Rule
Date: 2016-09-19
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting final rules amending its current system safeguards rules for designated contract markets, swap execution facilities, and swap data repositories, by enhancing and clarifying current provisions relating to system safeguards risk analysis and oversight and cybersecurity testing, and adding new provisions concerning certain aspects of cybersecurity testing. The final rules clarify the Commission's current system safeguards rules for all designated contract markets, swap execution facilities, and swap data repositories by specifying and defining the types of cybersecurity testing essential to fulfilling system safeguards testing obligations. These testing types are vulnerability testing, penetration testing, controls testing, security incident response plan testing, and enterprise technology risk assessment. The final rules also clarify current rule provisions respecting: The categories of risk analysis and oversight that statutorily-required programs of system safeguards- related risk analysis and oversight must address; system safeguards- related books and records obligations; the scope of system safeguards testing; internal reporting and review of testing results; and remediation of vulnerabilities and deficiencies. In addition, the final rules adopt new provisions set forth in the Commission's Notice of Proposed Rulemaking, applicable to covered designated contract markets (as defined) and all swap data repositories, establishing minimum frequency requirements for conducting certain types of cybersecurity testing, and requiring performance of certain tests by independent contractors.
Agency Information Collection Activities Under OMB Review
Document Number: 2016-22199
Type: Notice
Date: 2016-09-15
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 burden.
Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Document Number: 2016-22045
Type: Rule
Date: 2016-09-15
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 Japan Financial Services Agency (``JFSA'') that the Commission determine that laws and regulations applicable in Japan 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, with one exception, the Commission has found the margin requirements for uncleared swaps under the laws and regulations of Japan comparable to those under the Commodity Exchange Act (``CEA'') and Commission regulations.
Sunshine Act Meetings
Document Number: 2016-21537
Type: Notice
Date: 2016-09-07
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Commodity Pool Operator Annual Report
Document Number: 2016-21153
Type: Proposed Rule
Date: 2016-09-06
Agency: Commodity Futures Trading Commission, Agencies and Commissions
On August 5, 2016, the Commodity Futures Trading Commission (Commission or CFTC) published in the Federal Register a notice of proposed rulemaking (Proposal) to amend certain of its regulations applicable to the Annual Report that each person registered or required to be registered as a commodity pool operator (CPO) must distribute for each commodity pool that it operates. As is explained below, the Commission is extending for two weeks the comment period for the Proposal.
Sunshine Act Meetings
Document Number: 2016-21323
Type: Notice
Date: 2016-09-02
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Whistleblower Awards Process
Document Number: 2016-20745
Type: Proposed Rule
Date: 2016-08-30
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to amend its regulations to enhance the process for reviewing whistleblower claims and to make related changes to clarify staff authority to administer the whistleblower program. The Commission also is reinterpreting its anti-retaliation authority and proposing appropriate rule amendments to implement that authority.
Agency Information Collection Activities Under OMB Review
Document Number: 2016-20288
Type: Notice
Date: 2016-08-24
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 burden.
Final Response to District Court Remand Order in Securities Industry and Financial Markets Association, et al. v. United States Commodity Futures Trading Commission
Document Number: 2016-18854
Type: Rule
Date: 2016-08-16
Agency: Commodity Futures Trading Commission, Agencies and Commissions
This release is the Commodity Futures Trading Commission's (``Commission'' or ``CFTC'') final response to the order of the United States District Court for the District of Columbia in Securities Industry and Financial Markets Association, et al. v. United States Commodity Futures Trading Commission, (``SIFMA v. CFTC''), remanding eight swaps-related rulemakings to the Commission to resolve what the court held to be inadequacies in the Commission's consideration of costs and benefits, or its explanation of its consideration of costs and benefits, in those rulemakings. In this release the Commission addresses cost-benefit issues raised and suggestions for rule changes made in comments submitted in response to the Commission's Initial Response to the remand order.
Chief Compliance Officer Annual Report Requirements for Futures Commission Merchants, Swap Dealers, and Major Swap Participants; Amendments to Filing Dates
Document Number: 2016-19231
Type: Proposed Rule
Date: 2016-08-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to amend certain provisions of its regulations concerning Chief Compliance Officers (``Proposal''). The regulation that is the subject of the Proposal addresses chief compliance officers (``CCOs'') of futures commission merchants (``FCMs''), swap dealers (``SDs''), and major swap participants (``MSPs'') (collectively, ``Registrants''). The proposed amendments would: Codify existing no- action relief regarding the timing of when a Registrant must furnish its CCO annual report to the Commission; clarify filing requirements for Registrants located in a jurisdiction for which the Commission has issued a comparability determination; and delegate to the Director of the Division of Swap Dealer and Intermediary Oversight (``DSIO'') authority to grant extensions to the CCO annual report filing deadline.
Written Acknowledgment of Customer Funds From Federal Reserve Banks
Document Number: 2016-19211
Type: Rule
Date: 2016-08-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is amending its regulations to revise or repeal certain provisions related to the requirement that a derivatives clearing organization (``DCO'') obtain from a Federal Reserve Bank acting as a depository for customer funds a written acknowledgment that the Federal Reserve Bank was informed that the customer funds deposited therein are those of customers and are being held in accordance with Section 4d of the Commodity Exchange Act (``CEA'').
Order Exempting the Federal Reserve Banks From Sections 4d and 22 of the Commodity Exchange Act
Document Number: 2016-19210
Type: Notice
Date: 2016-08-12
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is issuing an order to exempt Federal Reserve Banks that provide customer accounts and other services to registered derivatives clearing organizations that are designated financial market utilities from Sections 4d and 22 of the Commodity Exchange Act (``CEA'').
Agency Information Collection Activities Under OMB Review
Document Number: 2016-19127
Type: Notice
Date: 2016-08-11
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: 2016-18859
Type: Notice
Date: 2016-08-09
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.
Commodity Pool Operator Annual Report
Document Number: 2016-18400
Type: Proposed Rule
Date: 2016-08-05
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission or CFTC) is proposing to amend certain of its regulations applicable to the Annual Report that each person registered or required to be registered as a commodity pool operator (CPO) must distribute for each commodity pool that it operates (Proposal). Specifically, the Proposal addresses the use of additional alternative generally accepted accounting principles, standards or practices, and the Annual Report audit requirement where the first fiscal year of a pool consists of a period of three months or less from the date of formation of the pool.
Exemption From Registration for Certain Foreign Persons
Document Number: 2016-18210
Type: Proposed Rule
Date: 2016-08-05
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') is proposing to amend one of its regulations. The proposed amendment would amend the conditions under which persons located outside the United States (``U.S.'') acting in the capacity of a futures commission merchant (``FCM''), an introducing broker (``IB''), commodity trading advisor (``CTA''), or commodity pool operator (``CPO'') in connection with commodity interest transactions solely on behalf of persons located outside the U.S., or on behalf of certain international financial institutions, would qualify for an exemption from registration with the Commission.
Agency Information Collection Activities Under OMB Review
Document Number: 2016-18213
Type: Notice
Date: 2016-08-02
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: 2016-18212
Type: Notice
Date: 2016-08-02
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: 2016-18134
Type: Notice
Date: 2016-07-29
Agency: Commodity Futures Trading Commission, Agencies and Commissions
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0074, Core Principles and Other Requirements for Swap Execution Facilities
Document Number: 2016-17374
Type: Notice
Date: 2016-07-22
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is announcing an opportunity for public comment on the 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 part 37 of the Commission's regulations, which requires certain recordkeeping and reporting information collections for swap execution facilities (SEFs).
Order Extending the Designation of the Provider of Legal Entity Identifiers To Be Used in Recordkeeping and Swap Data Reporting Pursuant to the Commission's Regulations
Document Number: 2016-17229
Type: Notice
Date: 2016-07-21
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'') has issued an order (``Order'') to extend the Commission's designation of the Depository Trust and Clearing Corporation (``DTCC'') and Society for Worldwide Interbank Financial Telecommunication (``SWIFT'') joint venture (``DTCC-SWIFT'') as the provider of legal entity identifiers, or ``LEIs,'' pursuant to applicable provisions of the Commodity Exchange Act (``CEA'') and the Commission's regulations. DTCC-SWIFT's designation was originally made by Commission order issued on July 23, 2012, for a term of two years. The Commission's order of July 23, 2012 was amended on June 7, 2013, an Amended and Restated Order issued on July 22, 2014 to extend DTCC-SWIFT's designation for an additional one year, and an Order was issued on July 17, 2015 to further extend DTCC- SWIFT's designation for an additional one year. This Order supersedes the Commission's Order issued on July 17, 2015 and further extends DTCC-SWIFT's designation for an additional one year while the transition to a fully operational global LEI system continues. This Order permits registered entities and swap counterparties subject to the Commission's jurisdiction to comply with the legal entity identifier requirements of parts 45 and 46 of the Commission's regulations by using identifiers issued by DTCC-SWIFT, or any other pre-Local Operating Unit (``pre-LOU'') that has been endorsed by the Regulatory Oversight Committee (``ROC'') of the global LEI system as being globally acceptable and as issuing globally acceptable legal entity identifiers.
Agency Information Collection Activities: Revised Collection, Comment Request: Amendments To Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps, Final Rule
Document Number: 2016-17208
Type: Notice
Date: 2016-07-21
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 amendment to an existing 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 any renewal or revision of such collection, and to allow 60 days for public comment. The Commission recently adopted a final rule regarding the reporting of cleared swap transactions (the ``Cleared Swap Reporting Release''), which will require entities reporting swaps to report certain additional data elements. This Cleared Swap Reporting Release will also require registered derivatives clearing organizations (``DCOs'') to terminate ``original swaps'' (as defined in that final rule), which may require DCOs to connect to multiple registered swap data repositories (``SDRs''). This notice solicits comments on the proposed revisions to existing PRA collections implicated by the requirements of the Cleared Swap Reporting Release.
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0102, Clearing Exemption for Certain Swaps Entered Into by Cooperatives
Document Number: 2016-15473
Type: Notice
Date: 2016-06-30
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 collection renewal 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 reporting requirements related to Commission regulation 50.51, which permits certain cooperatives to elect not to clear certain swaps that otherwise would be required to be cleared, provided that they meet certain conditions.
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0005, Rules Relating to the Operations and Activities of Commodity Pool Operators and Commodity Trading Advisors and to Monthly Reporting by Futures Commission Merchants
Document Number: 2016-15472
Type: Notice
Date: 2016-06-30
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 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 requirements relating to reporting and recordkeeping by Commodity Pool Operators and Commodity Trading Advisors.
Agency Information Collection Activities Under OMB Review
Document Number: 2016-15344
Type: Notice
Date: 2016-06-29
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.
Adjustment of Civil Monetary Penalties for Inflation
Document Number: 2016-15078
Type: Rule
Date: 2016-06-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission) is amending its rule that governs 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.
Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps
Document Number: 2016-14414
Type: Rule
Date: 2016-06-27
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting final regulations relating to swap data reporting in connection with cleared swaps for swap data repositories (``SDRs''), derivatives clearing organizations (``DCOs''), designated contract markets (``DCMs''), swap execution facilities (``SEFs''), swap dealers (``SDs''), major swap participants (``MSPs''), and swap counterparties who are neither SDs nor MSPs. Commodity Exchange Act (``CEA'' or ``Act'') provisions relating to swap data recordkeeping and reporting were added by the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act''). These regulations adopt without change revisions to the Commission regulations as proposed in the Notice of Proposed Rulemaking (``NPRM'') issued August 31, 2015. These revisions clarify regulations to clearly delineate the swap data reporting requirements associated with each of the swaps involved in a cleared swap transaction. Additionally, these revisions leave the choice of SDR for each swap in a cleared swap transaction to the entity submitting the first report on such swap.
Clearing Requirement Determination Under Section 2(h) of the CEA for Interest Rate Swaps
Document Number: 2016-14035
Type: Proposed Rule
Date: 2016-06-16
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (Commission or CFTC) is proposing to amend the Commission's rules to establish a new clearing requirement under the pertinent section of the Commodity Exchange Act (CEA). The amended regulation would require that interest rate swaps denominated in certain currencies or having certain termination dates, as described herein, be submitted for clearing by persons required to do so under the pertinent section of the CEA to a derivatives clearing organization (DCO) that is registered under the CEA (registered DCO) or a DCO that has been exempted from registration under the CEA (exempt DCO).
Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0099, Process for a Swap Execution Facility or Designated Contract Market To Make a Swap Available To Trade
Document Number: 2016-14029
Type: Notice
Date: 2016-06-14
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 (``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 process for a designated contract market (DCM) or a swap execution facility (SEF) to make a swap available to trade and therefore subject to the trade execution requirement pursuant to the Commodity Exchange Act (``CEA''). This process imposes rule filing requirements on a DCM or a SEF that wishes to submit a swap as available to trade.
Position Limits for Derivatives: Certain Exemptions and Guidance
Document Number: 2016-12964
Type: Proposed Rule
Date: 2016-06-13
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing revisions and additions to regulations and guidance proposed in 2013 concerning speculative position limits in response to comments received on that proposal. The Commission is proposing new alternative processes for designated contract markets (``DCMs'') and swap execution facilities (``SEFs'') to recognize certain positions in commodity derivative contracts as non-enumerated bona fide hedges or enumerated anticipatory bona fide hedges, as well as to exempt from federal position limits certain spread positions, in each case subject to Commission review. In this regard, the Commission proposes to amend certain of the regulations proposed in 2013 regarding exemptions from federal position limits and exchange-set position limits to take into account these new alternative processes. In connection with these changes, the Commission proposes to further amend certain relevant definitions, including to clearly define the general definition of bona fide hedging for physical commodities under the standards in CEA section 4a(c). Separately, the Commission proposes to delay for DCMs and SEFs that lack access to sufficient swap position information the requirement to establish and monitor position limits on swaps.
Agency Information Collection Activities: Notice Requesting Approval of New Collection, CFTC SmartCheck Annual Campaign Impact Tracking Survey, 3038-NEW
Document Number: 2016-13623
Type: Notice
Date: 2016-06-09
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is announcing an opportunity for public comment on a proposed 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 and to allow 60 days for public comment. The CFTC's Office of Customer Education and Outreach (OCEO) develops campaigns to change customer behaviors, so that customers can better avoid fraud as defined under the Commodities Exchange Act. The OCEO intends to survey the public by identifying customers and determining if the CFTC's SmartCheck\SM\ campaign is helping them to identify, avoid, and report financial fraud.
Market Risk Advisory Committee
Document Number: 2016-13622
Type: Notice
Date: 2016-06-09
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (CFTC) announces that on June 27, 2016, from 10:00 a.m. to 1:30 p.m., the Market Risk Advisory Committee (MRAC) will hold a public meeting at the CFTC's Washington, DC, headquarters. The MRAC will discuss: (1) The CCP Risk Management Subcommittee's draft recommendations on how Central Counterparties (CCPs) can better coordinate their efforts in preparing for the default of a significant clearing member, and (2) the role of the Federal Deposit Insurance Corporation (FDIC) and CFTC in the resolution of both banks and CCPs.
Public Staff Roundtable on Elements of Regulation Automated Trading; Reopening of Comment Period
Document Number: 2016-13385
Type: Proposed Rule
Date: 2016-06-07
Agency: Commodity Futures Trading Commission, Agencies and Commissions
On June 10, 2016, staff of the Commodity Futures Trading Commission (CFTC or Commission) will hold a public roundtable meeting, at which invited participants will discuss specific elements of the Commission's notice of proposed rulemaking (NPRM) regarding Regulation Automated Trading (Regulation AT). The staff roundtable, which will be held at the Commission's Washington, DC, office, will commence at 9:00 a.m. and end at 4:00 p.m. Additional information, including the agenda, is available in the ``Press Room'' section of the Commission's Web site at www.cftc.gov. In conjunction with the staff roundtable on June 10, the Commission is reopening the comment period for specific elements of Regulation AT. This additional comment period is intended to accept public comments solely on the specific items in the agenda and that arise during the staff roundtable.
Notice of Proposed Order and Request for Comment on a Proposal To Exempt, Pursuant to the Authority in Section 4(c) of the Commodity Exchange Act, the Federal Reserve Banks From Sections 4d and 22 of the Commodity Exchange Act
Document Number: 2016-13055
Type: Notice
Date: 2016-06-02
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is proposing to permit Federal Reserve Banks to hold money, securities, and property deposited into a customer account by a systemically important derivatives clearing organization in accordance with the standards to which Federal Reserve Banks are held, as specified below. Thus, the Commission is proposing to exempt Federal Reserve Banks that provide customer accounts and other services to systemically important derivatives clearing organizations from Sections 4d and 22 of the Commodity Exchange Act (``CEA'' or the ``Act'').