On January 4, 2016, the CFTC proposed a rule offering an alternative to the requirement for foreign natural persons to provide fingerprints when applying for CFTC registration. The proposal provides that any such person’s registered firm may complete a criminal history background check instead of submitting fingerprints. The proposal generally codifies CFTC Staff Letters 12-49 and 13-29 and would supersede those letters, if adopted. Comments on the proposed rule are due on or before February 11, 2016.
The CFTC press release is available at: http://www.cftc.gov/PressRoom/PressReleases/pr7302-16 and the proposed rule is available at: http://www.cftc.gov/idc/groups/public/@newsroom/documents/file/federalregister010416.pdf.