July 19, 2011 76 FR 42508 Pursuant to the Commission's exemptive authority pursuant to the Commodity Exchange Act, the CFTC is adopting certain temporary relief from the provisions of the CEA added or amended by title VII of the Dodd-Frank Act that reference one or more terms regarding entities or instruments that title VII requires be "further defined," such as the terms "swap," "swap dealer," "major swap participant," or "eligible contract participant," to the extent that requirements or portions of such provisions specifically relate to such referenced terms and do not require a rulemaking
News & Insights
Remarks Before the Financial Stability Oversight Council July 18, 2011 The final rulemaking adopts a definition of the term agricultural commodity, CFTC Chairman Gensler expresses support for the final rulemaking on the Authority to Designate Financial Market Utilities as Systemically Important. This is a significant rulemaking that will enable the Financial Stability Oversight Council. Cross References Dodd-Frank Act, Title I
Open Meeting on Four Final Rule Proposals and One Proposed Rule under the Dodd-Frank Act CFTC Press Release 6070-11 July 19, 2011 Additional Documents Fact Sheet: Proposed Rule on Customer Clearing Documentation and Timing of Acceptance for Clearing Q&A: Proposed Rule on Customer Clearing Documentation and Timing of Acceptance for Clearing Fact Sheet: Proposed Rule on Clearing Member Risk Management Q&A: Proposed Rule on Clearing Member Risk Management Fact Sheet: Part 40 Final Rulemaking Q&A: Part 40 Final Rulemaking Fact Sheet: Process for Review of Swaps for Mandatory Clearing Q&A: Process
Concurrence Statement on the Order Regarding the Effective Date for Swap Regulation July 14, 2011 CFTC Commissioner O'Malia expresses disappointment with the lack of harmonization between the CFTC's order and the exemptive relief that the S.E.C. provided, and with the final order ignoring a number of comments from market participants asking for an implantation plan. He urges to put forward an implementation plan for public comment during the month of August. Cross References Dodd-Frank Act, Title VII, Sec. 754
CFTC Clarifies Effective Date for Swaps Regulation Under the Dodd-Frank Act Order: Effective Date for Swap Regulation CFTC Press Release 6073-11 July 14, 2011 The CFTC issued an Order clarifying the effective date of the provisions in the swap regulatory regime established by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act") as the CFTC continues to implement rules to reduce risk and enhance transparency in the swap markets. The Order provides temporary relief from certain provisions that will become effective as of July 16, 2011, until the CFTC