The Commodity Futures Trading Commission proposed a multitude of amendments to rules governing derivatives clearing organizations to codify previously granted staff relief and guidance; enhance processes around the default of a clearing member; conform rules to existing registration practices; modify some financial obligations; and add a reporting requirement for the proposed clearing of new contracts. Comments will be accepted on the rule amendment proposals through 60 days after their publication in the Federal Register. Many of the CFTC’s proposals were made in response to its Project KISS initiative. (Click here for background on Project Kiss in the article “CFTC Chairman Nominee Warns of Tough Love to Come: KISS but Also Aggressive and Assertive Enforcement” in the March 19, 2017 edition of Bridging the Week.)