CFTC Chair Timothy Massad announced in a recent interview that the CFTC is planning to bolster its examinations of clearinghouses ("CCPs") to ensure their health. He noted that the CFTC will work with the Board of Governors of the Federal Reserve System on the effort. Chair Massad cited new rules, which require banks and other firms to use CCPs owned by LCH.Clearnet Group Ltd, CME Group and ICE, as examples of how intensifying the oversight of CCPs can help "monitor and mitigate risks" without eliminating them. Separately, in an online commentary, University of Houston Finance Professor Craig

In response to a request for relief from the American Council of Life Insurers, the CFTC Division of Swap Dealer and Intermediary Oversight issued an interpretation of CFTC Rule 4.10(d) and CEA Section 1a(10), both of which define the term "commodity pool." Specifically, the CFTC is interpreting the definition of "commodity pool" not to include a vehicle to which wholly owned subsidiaries of a single life insurance company contribute their general account assets, and which invests directly or indirectly in commodity interests. See: CFTC Letter 14-113.

The CFTC announced the reestablishment of the Global Markets Advisory Committee and the Agricultural Advisory Committee. According to the Federal Register release, the charters for the reestablished Committees will be filed with the CFTC and respective Congressional Committees no sooner than 15 days following the date of the publication of the Federal Register notices. See: 79 FR 53421 (GMAC and AAC Notice).

On "Market Makers," a Bloomberg program, CFTC Chair Timothy Massad spoke with Peter Cook about various priorities and issues for the CFTC. Chair Massad addressed, among other things, the CFTC's post-Dodd-Frank regulations and FY 2015 budget, and cross-border issues and position limits. Mr. Cook asked Chair Massad whether his technique as Chair will vary from that of his predecessor, Gary Gensler. Chair Massad stated that the CFTC faces different challenges than it did in the Gensler era, and that he plans to "act accordingly." Additionally, Mr. Cook questioned Chair Massad about whether any

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued an exemptive letter that allows CPOs to use additional recordkeepers beyond those enumerated in CFTC Rules 4.7(b)(4) and 4.23(c). Such recordkeepers may be used in lieu of maintaining such records at the CPO's main business headquarters. In the letter, DSIO noted that the CPO remains responsible for producing such records upon request by the CFTC and would be liable for any failure to maintain the books and records in the manner prescribed by CFTC Rules. See: CFTC Letter 14-114.