Interim Final Rules

Annual adjustment of civil monetary penalties. 

The CFTC published an interim final rule amending its rule that governs the maximum amount of civil monetary penalties, to adjust for inflation. This interim final rule became effective on January 23, 2017. (1/23/2017)

Proposed Rules

CFTC proposes technical amendments to rules on registration and review of exchange disciplinary, access denial or other adverse actions. The CFTC proposed technical amendments to its regulations that govern registration and review of exchange disciplinary, access denial or other adverse actions. The amendments would integrate existing advisory guidance, and the amendments to 17 CFR Part 9 would also incorporate swap execution facilities and update provisions currently applicable to designated contract markets. Comments must be received by March 24, 2017. (1/23/2017)

Federal Register: Proposal to amend recordkeeping obligations. The CFTC’s proposed rule to amend recordkeeping requirements was published in the Federal Register. Comments on the proposal are due by March 20, 2017. (1/19/2017)

Proposals on swaps data and other amendments approved. The CFTC announced its unanimous approval of proposed changes to swap data rules that implement Congressional action to remove indemnification requirements for the use of swap data by other regulators. In a separate proposal, the CFTC voted to update Parts 3 and 9 to integrate existing advisory guidance, incorporate swap execution facilities, and update provisions currently applicable to designated contract markets. The comment period will be open for 60 days following publication in the Federal Register. (1/13/2017) See Fact Sheet: Proposed Amendments to Rules Relating to Swap Data Access by Certain Foreign and Domestic Authorities. Also see Massad statement on proposed amendments to swap data access provisions. 

Proposal to amend recordkeeping requirements is unanimously approved. The CFTC announced its unanimous approval of proposed amendments to Regulation 1.31. The proposed amendments would modernize and make technology-neutral the form and manner in which regulatory records must be kept, as well as rationalize the rule text for ease of understanding. The CFTC is seeking comments on the proposed amendments. The comment period ends 60 days after the proposal’s publication in the Federal Register. (1/12/2017) See Chairman Massad Statement on the Notice of Proposed Rulemaking to Amend Regulation 1.31. 

Other Developments

Comment period extended for supplemental proposal for Regulation AT. The CFTC announced that it is extending the comment period for the supplemental proposal for Regulation Automated Trading to May 1, 2017. (1/23/2017)

CFTC names J. Christopher Giancarlo as Acting Chairman. The CFTC announced that it has selected Commissioner J. Christopher Giancarlo as its Acting Chairman. Commissioner Giancarlo succeeds Timothy Massad, who served as Chairman since June 5, 2014. (1/20/2017)

New advisories on cooperation issued. The Division of Enforcement announced that it has issued two new Enforcement Advisories outlining the factors the CFTC Enforcement Division will consider in evaluating cooperation by individuals and companies in the agency’s investigations and enforcement actions. (1/19/2017)

CFTC Director of Enforcement to leave agency. Chairman Timothy Massad announced that Division of Enforcement Director Aitan Goelman will be leaving the agency on February 3, 2017. (1/19/2017)