CFTC Part 3 and 9 Regulations
On Jan. 9, CFTC issued part 3, 9 regulation on market discipline.
- Integrate existing advisory guidance, incorporate swap execution facilities (SEFs),
and update provisions currently applicable to designated contract markets (DCMs).
- CFTC Revisions
- Part 3 governs registration of intermediaries; while Part 9 details the rules related
to CFTC review of exchange disciplinary, access denial, and other adverse actions.
- Amendments revise Part 9 rules to delete cross-references to deleted Part 8 rules.
- Add citation to parallel provisions, contained in Part 37 for SEFs, Part 38 for DCMs.
- The CFTC removed Part 8 rules, during the implementation of the Dodd-Frank Act.
- Require publication of disciplinary and denial action by SEFs and DCMs on website.
- NFA Disciplinary Notice
- CFTC also updated notice, that allows NFA to receive exchange disciplinary notices.
- Duty to receive and process exchange disciplinary/access denial action information.
- Delegation being updated, to clarify that DCM, SEF notices are now filed with NFA.
- NFA continues as the official custodian of records, for exchange disciplinary filings.
- Jan. 2018 Federal Register
- On Jan. 12, 2018, CFTC issued order, rule and notice on revision in federal register.
- Estimated to affect 296 DCMs and 15 SEFs, final rule is effective on Mar. 13, 2018.
||Depo; Exch; FCM; OTC
||RF: 83 FR 1538, 1/12/2018; RIN 3038-AE15; Ord: 83 FR 1548, 1/12/2018; Ntc: 83 FR 1548, 1/12/2018; PR, 1/09/2018
||Compliance; C-Suite; Legal; Registration; Reporting; Trading
||United States of America
||Clearing; Commodities; Derivatives; Futures
Last substantive update on 01/12/2018