CFTC Seeks Comments on Amended EFRP Rule


On September 19, the Commodity Futures Trading Commission requested public comments on proposed amendments to the exchange for related position (EFRP) rules and Market Regulation Advisory Notice of the Chicago Mercantile Exchange, the Board of Trade of the City of Chicago, the New York Mercantile Exchange, the Commodity Exchange and the Board of Trade of Kansas City. The proposed revisions would prohibit transitory EFRPs and EFRP transactions between commonly controlled accounts. The revised rules and guidance also would prohibit the use of EFRPs to transfer funds between parties, permit the use of certain EFRP transactions in connection with inventory financing and clarify the recordkeeping and trade data submission requirements for EFRPs. 

The CFTC’s request for comment is available here

The proposed rules and guidance are available here.

Topics:  CFTC, Proposed Amendments, Public Comment

Published In: Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »