Search Results for agency_names:"Commodity Futures Trading Commission"

The Commodity Futures Trading Commission (CFTC) has established rules for exempting certain foreign derivatives clearing organizations (DCOs) from the registration requirement, as long as these organizations are subject to comprehensive supervision by their home country's regulator. These exemptions allow the foreign DCOs to clear swaps for U.S. persons' own accounts but not for customers, ensuring that U.S. market participants have more options. The CFTC is adopting this final rule, which sets out the procedures for obtaining an exemption, the conditions that must be met, and the reporting requirements needed to maintain the exemption. The regulation aims to promote international cooperation and market efficiency while maintaining important regulatory standards.

The Commodity Futures Trading Commission (CFTC) has introduced a new rule requiring futures commission merchants (FCMs) to ensure customers maintain enough funds to meet initial margin requirements before allowing withdrawals. This rule also allows FCMs to treat separate customer accounts as if they belong to separate entities, under certain conditions, to manage risks effectively. The new rule aims to protect customer funds, prevent systemic risks, and ensure the integrity of financial markets. It extends existing requirements for margin management currently applicable through DCOs to FCMs who are not clearing members.

The Commodity Futures Trading Commission (CFTC) has amended the margin rules for uncleared swaps for swap dealers and major swap participants without a prudential regulator. The new rules allow for a minimum transfer amount (MTA) of up to $50,000 for each separately managed account (SMA) of a legal entity. They also permit separate MTAs for initial and variation margin, provided they don't exceed $500,000 combined. These changes aim to reduce operational burdens while ensuring the swaps market continues to function smoothly and safely.

The Commodity Futures Trading Commission (CFTC) is updating the rules for civil monetary penalties under the Commodity Exchange Act to account for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act. This update adjusts the maximum fines for violations based on the change in the Consumer Price Index. The new penalties will apply to violations assessed after January 15, 2025. This rule aims to ensure penalties remain effective as deterrents over time and doesn’t require the standard notice and comment process normally needed for new regulations.

The Commodity Futures Trading Commission has issued a notice for an Information Collection Request (ICR) under the Paperwork Reduction Act of 1995, seeking public comments by January 15, 2025. This request involves extending an existing data collection related to swap data access provisions, required by the Dodd-Frank Act. The collection impacts four respondents, with an average annual burden of 19,679.5 hours each, totaling 78,718 hours overall. The ongoing costs per respondent are estimated to be around $2 million, with no initial start-up costs.

The Commodity Futures Trading Commission (CFTC) has finalized new rules to manage risks associated with electronic trading on designated contract markets (DCMs). These rules require DCMs to adopt measures to prevent, detect, and mitigate market disruptions or anomalies that might occur due to electronic trading. The regulations emphasize flexibility by allowing each DCM to tailor their risk controls based on their specific market needs. This approach aims to ensure stable and fair trading environments on electronic platforms.

The Commodity Futures Trading Commission (CFTC) has finalized new rules to address several operational challenges faced by Swap Execution Facilities (SEFs) and their market participants. These changes include eliminating the requirement for SEFs to capture and retain post-execution allocation information in their audit trail data. Additionally, the financial resources requirements have been amended to reduce burdens on SEFs while ensuring compliance with regulatory standards. The rules also simplify the duties and reporting requirements of a Chief Compliance Officer, allowing more flexibility and efficiency in SEF operations.

The Commodity Futures Trading Commission (CFTC) has issued a final rule to adjust the maximum amount of civil monetary penalties (CMPs) for inflation under the Commodity Exchange Act (CEA). This annual adjustment is required by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended, and ensures that penalties maintain their deterrent effect over time. The rule applies to penalties assessed after January 15, 2021, and is based on the percentage change in the Consumer Price Index. This adjustment process is exempt from the typical notice and comment procedures under the Administrative Procedure Act.

The Commodity Futures Trading Commission (CFTC) has finalized amendments to its rules about margin requirements for certain swaps. These changes update how entities determine if they fall under the requirement to exchange initial margin for swaps that aren't centrally cleared. The amendments align the CFTC rules with international standards set by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions. In addition, it allows certain swap dealers to use a risk-based model from other registered swap dealers to calculate necessary initial margins, making compliance more practical and internationally consistent.

The Commodity Futures Trading Commission (CFTC) has adopted a final rule that establishes two exemptions from the requirement to execute certain swaps on regulated trading platforms. Swaps that qualify for clearing exemptions under existing regulations can now also be exempt from this execution requirement. Additionally, swaps made between eligible affiliate counterparties can be exempted from being executed on these platforms, even if these swaps are cleared. This rule aims to reduce unnecessary costs and enhance flexibility for specific types of swap transactions.