The CFTC approved technical amendments to Part 3 and Part 9 of its rules.
Part 3 relates to the registration of intermediaries. Part 9 relates to the review of exchange disciplinary, access denial and other adverse actions. The amendments incorporate Part 9 requirements for swap execution facilities, integrate existing supervisory guidance to the rules, and eliminate outdated cross-references. The amendments also require publication of final disciplinary and access denial actions taken by the SEFs and DCMs.
The amendments expand the definition of "disciplinary action" in CFTC Rule 9.2 to account for instances where an exchange imposes sanctions against a person that is not a member of the exchange. To effect this change, the amendments remove references to the "member of an exchange" and insert "person" in its place in order to include any person who has trading privileges on an exchange. In addition, the CFTC approved a notice and order providing that designated contract market and SEF disciplinary and access denial notices must be filed with the National Futures Association.
The amendments and the notice and order will become effective 60 days after publication in the Federal Register.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
