Proposed Rules, Orders, and Guidance
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Dodd-Frank Proposed Rules, Guidance and Advanced Notices
The Commodity Futures Trading Commission is in the process of implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under Dodd-Frank, in August 2010, the Commission began issuing proposed rules and soliciting public comment. The Commission is also currently finalizing Dodd-Frank rules.
View Dodd-Frank Final Rules, Guidance and Orders
To date, the CFTC has issued 64 proposed rules and guidance, 4 advanced notices of proposed rulemaking, and 6 proposed exemptive orders.
Proposed Rules & Guidance
Publication
DateProposed Rule Details
8/21/201277 FR 50425 // PDF Version
17 CFR Part 39
Clearing Exemption for Swaps Between Certain Affiliated Entities
Comment File - Closing Date: 9/20/20128/7/2012 77 FR 47169 // PDF Version
17 CFR Part 50
Clearing Requirement Determination Under Section 2(h) of the CEA
Comment File - Closing Date: 9/6/2012Regarding Rulemaking: Clearing Requirment
7/17/2012 77 FR 41940 // PDF Version
17 CFR Part 39
Clearing Exemption for Certain Swaps Entered Into by Cooperatives
Comment File - Closing Date: 8/16/2012Regarding Rulemakings: End-user Exception
Clearing Requirement07/12/2012 77 FR 41213 // PDF Version
17 CFR Chapter I
Cross-Border Application of Certain Swaps Provisions of the Commodity Exchange Act
Comment File - Closing Date: 8/27/201206/27/2012 77 FR 38229 // PDF Version
17 CFR Part 43
Rules Prohibiting the Aggregation of Orders To Satisfy Minimum Block Sizes or Cap Size Requirements, and Establishing Eligibility Requirements for Parties to Block Trades
Comment File - Closing Date: 7/27/2012Regarding Rulemaking: Real-Time Reporting
5/30/2012 77 FR 31767 // PDF Version
17 CFR Part 151
Aggregation, Position Limits for Futures and Swaps
Comment File - Closing Date: 6/29/2012Regarding Rulemaking: XXVI Position Limits, including Bona Fide Hedging Definition & Aggregate Limits
5/7/2012 77 FR 26709 // PDF Version
17 CFR Part 49
Swap Data Repositories: Interpretative Statement Regarding the Confidentiality and Indemnification Provisions of Section 21(d) of the Commodity Exchange Act
Comment File - Closing Date: 6/6/2012
Regarding Rulemaking: XVI. Swap Data Repositories Registration Standards and Core Principle Rulemaking, Interpretation & Guidance3/15/2012 17 CFR Part 43
Procedures to Establish Appropriate Minimum Block Sizes for Large Notional Off-Facility Swaps and Block TradesComment File - Closing Date: 5/14/2012
Regarding Rulemaking: XVIII. Real Time Reporting
3/6/2012 CFTC 17 CFR Part 162 and SEC 17 CFR Part 248
Identity Theft Red Flags RulesComment File - Closing Date: 5/7/2012
Regarding Rulemaking: XXI. Joint Rules w/ SEC
2/24/2012 17 CFR Part 4
Harmonization of Compliance Obligations for Registered Investment Companies Required to Register as Commodity Pool OperatorsComment File - Closing Date: 4/24/2012
Regarding Rulemaking: XXVII. Investment Adviser Reporting
2/14/2012 17 CFR Part 75
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships with, Hedge Funds and Covered FundsComment File - Closing Date: 4/16/2012
Regarding Rulemaking: XXVIII. Volcker Rule
12/14/2011 17 CFR Parts 37 and 38
Process for a Designated Contract Market or Swap Execution Facility to Make a Swap Available to Trade under Section 2(h)(8) of the Commodity Exchange ActComment File - Closing Date: 2/13/2012
Regarding Rulemaking: XII. DCM Core Principles
XIII. SEF Registration9/20/2011 17 CFR Parts 37, 38, and 39
Swap Transaction Compliance and Implementation Schedule: Clearing and Trade Execution Requirements under Section 2(h) of the CEAComment File - Closing Date: 11/4/2011
Regarding Rulemaking: VIII. Process for Review of Swaps for Mandatory Clearing
XIII. SEF Registration8/1/2011 17 CFR Parts 1, 23, and 39
Customer Clearing Documentation and Timing of Acceptance for ClearingComment File - Closing Date: 9/30/2011
Regarding Rulemaking: VII. DCO Core Principles
See Also
Correction: 17 CFR Parts 1, 23, and 39
Customer Clearing Documentation and Timing of Acceptance for Clearing; Correction8/1/2011 17 CFR Parts 1 and 23
Clearing Member Risk ManagementComment File - Closing Date: 9/30/2011
Regarding Rulemaking: VII. DCO Core Principles
6/9/2011 17 CFR Parts 22 and 190
Protection of Cleared Swaps Customer Contracts and Collateral; Conforming Amendments to the Commodity Broker Bankruptcy ProvisionsComment File - Closing Date: 8/8/2011
Regarding Rulemaking: VI. Segregation & Bankruptcy
See Also
Correction: 17 CFR Parts 22 and 190
Protection of Cleared Swaps Customer Contracts and Collateral; Conforming Amendments to the Commodity Broker Bankruptcy Provisions; Correction6/7/2011 17 CFR Parts 1, 5, 7, 8, 15, 18, 21, 36, 41, 140, 145, 155, and 166
Adaptation of Regulations to Incorporate SwapsComment File - Closing Date: 8/8/2011
Regarding Rulemaking: XXXI. Conforming Amendments
See Also:
Related Document: Adaptation of Regulations - Redline
5/23/2011 Commodity Futures Trading Commission 17 CFR Part 1 Securities and Exchange Commission 17 CFR Part 240
Further Definition of "Swap,'' "Security-Based Swap,'' and "Security-Based Swap Agreement''; Mixed Swaps; Security-Based Swap Agreement RecordkeepingComment File - Closing Date: 7/22/2011
Regarding Rulemaking: XXI. Joint Rules w/ SEC
See Also:
Correction: CFTC 17 CFR Part 1 and SEC 17 CFR Part 240
Further Definition of "Swap,'' "Security-Based Swap,'' and "Security-Based Swap Agreement''; Mixed Swaps; Security-Based Swap Agreement Recordkeeping5/12/2011 17 CFR Parts 1, 23, and 140
Capital Requirements of Swap Dealers and Major Swap ParticipantsComment File - Closing Date: 7/11/2011
Regarding Rulemaking: V. Capital & Margin for Non-banks
4/28/2011 17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap ParticipantsComment File - Extended Date: 7/11/2011
Regarding Rulemaking: V. Capital & Margin for Non-banks
See Also:
Comments Extension
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Comment File - Closing Date: 7/11/2011See Also:
17 CFR Part 23
Swap Transaction Compliance and Implementation Schedule: Trading Documentation and Margining Requirements under Section 4s of the CEAComment File - Closing Date: 11/4/2011
Regarding Rulemaking: IV. Internal Business Conduct
V. Capital and Margin for Non-BanksSee Also:
77 FR 41109 // PDF Version
17 CFR Part 23
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Comment File - Extended Date: 9/14/20124/25/2011 17 CFR Part 46
Swap Data Recordkeeping and Reporting Requirements: Pre-Enactment and Transition SwapsComment File - Closing Date: 6/9/2011
Regarding Rulemaking: XVII. Data Recordkeeping
3/18/2011 Antidisruptive Practices Authority (Proposed Interpretive Order)
Comment File - Closing Date: 5/17/2011
Regarding Rulemaking: XXIV. Disruptive Trading Practices
See Also:
Notice: 17 CFR Chapter I
Antidisruptive Practices Authority (Advance Notice of Proposed Rulemaking; Notice of Termination)3/10/2011 17 CFR Parts 23, 37, 38, and 39
Requirements for Processing, Clearing, and Transfer of Customer PositionsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: VII. DCO Core Principles
3/9/2011 17 CFR Part 3
Registration of IntermediariesComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XXXI. Conforming Amendments
3/3/2011 17 CFR Part 4
Amendments to Commodity Pool Operator and Commodity Trading Advisor Regulations Resulting From the Dodd-Frank ActComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XXXI. Conforming Amendments
2/11/2011 Commodity Futures Trading Commission 17 CFR Part 4 Securities and Exchange Commission 17 CFR Parts 275 and 279
Reporting by Investment Advisers to Private Funds and Certain Commodity Pool Operators and Commodity Trading Advisors on Form PFComment File - Closing Date: 4/12/2011
Regarding Rulemaking: XXVII. Investment Adviser Reporting
2/11/2011 17 CFR Parts 4, 145, and 147
Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance ObligationsComment FIle - Closing Date: 4/12/2011
Regarding Rulemaking: XXVII. Investment Adviser Reporting
2/8/2011 17 CFR Part 23
Orderly Liquidation Termination Provision in Swap Trading Relationship Documentation for Swap Dealers and Major Swap ParticipantsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IV. Business Conduct Standards - Internal
2/8/2011 17 CFR Part 23
Swap Trading Relationship Documentation Requirements for Swap Dealers and Major Swap ParticipantsComment File - Closing Date: 4/11/2011
Regarding Rulemaking: IV. Business Conduct Standards - Internal
See Also:
17 CFR Part 23
Swap Transaction Compliance and Implementation Schedule: Trading Documentation and Margining Requirements under Section 4s of the CEAComment File - Closing Date: 11/4/2011
Regarding Rulemaking: IV. Internal Business Conduct
V. Capital and Margin for Non-Banks2/3/2011 17 CFR Parts 3, 32, 33, and 35
Commodity Options and Agricultural SwapsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XIX. Agricultural Swaps
1/26/2011 17 CFR Parts 1, 150 and 151
Position Limits for DerivativesComment File - Closing Date: 3/28/2011
Regarding Rulemaking: XXVI. Position Limits
1/20/2011 17 CFR Part 39
Risk Management Requirements for Derivatives Clearing OrganizationsComment File - Closing Date: 3/21/2011
Regarding Rulemaking: VII. DCO Core Principles
See Also:
Correction: 17 CFR Part 39
Risk Management Requirements for Derivatives Clearing Organizations; CorrectionComments Extension: 17 CFR Part 39
Risk Management Requirements for Derivatives Clearing Organizations1/7/2011 17 CFR Part 37
Core Principles and Other Requirements for Swap Execution FacilitiesComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XIII. SEF Registration
1/6/2011 17 CFR Parts 1, 37, 38, 39, and 40
Governance Requirements for Derivatives Clearing Organizations, Designated Contract Markets, and Swap Execution Facilities; Additional Requirements Regarding the Mitigation of Conflicts of InterestComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IX. Governance & Possible Limits
12/28/2010 17 CFR Part 23
Confirmation, Portfolio Reconciliation, and Portfolio Compression Requirements for Swap Dealers and Major Swap ParticipantsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IV. Business Conduct Standards - Internal
12/23/2010 17 CFR Part 49
Swap Data RepositoriesComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XVI. Swap Data Repositories Registration
12/23/2010 17 CFR Part 39
End-User Exception to Mandatory Clearing of SwapsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XI. End-user Exception
12/22/2010 17 CFR Parts 23 and 155
Business Conduct Standards for Swap Dealers and Major Swap Participants With CounterpartiesComment File - Extended Date: 6/3/2011
Regarding Rulemaking: III. Business Conduct Standards w/ Counterparties
12/22/2010 17 CFR Parts 1, 16, and 38
Core Principles and Other Requirements for Designated Contract MarketsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XII. DCM Core Principles
See Also:
Comments Extension: 17 CFR Parts 1, 16, and 38
Core Principles and Other Requirements for Designated Contact Markets12/21/2010 17 CFR Part 1 Securities and Exchange Commission 17 CFR Part 240
Further Definition of "Swap Dealer," "Security-Based Swap Dealer," "Major Swap Participant," "Major Security-Based Swap Participant" and "Eligible Contract Participant"Comment File - Extended Date: 6/3/2011
Regarding Rulemaking: II. Definitions
12/15/2010 17 CFR Parts 1, 21, and 39
Information Management Requirements for Derivatives Clearing OrganizationsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: VII. DCO Core Principles
12/13/2010 17 CFR Parts 1 and 39
General Regulations and Derivatives Clearing OrganizationsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: VII. DCO Core Principles
12/9/2010 17 CFR Part 23
Reporting, Recordkeeping, and Daily Trading Records Requirements for Swap Dealers and Major Swap ParticipantsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XVII. Data Recordkeeping
12/8/2010 17 CFR Part 45
Swap Data Recordkeeping and Reporting RequirementsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XVII. Data Recordkeeping
12/7/2010 17 CFR Part 43
Real-Time Public Reporting of Swap Transaction DataComment File – Closing Date: 2/7/2011
Regarding Rulemaking: XVIII. Real Time Reporting
See Also:
Correction: 17 CFR Part 43
Real-Time Public Reporting of Swap Transaction Data Correction12/6/2010 17 CFR Part 165
Implementing the Whistleblower Provisions of Section 23 of the Commodity Exchange ActComment File – Closing Date: 2/4/2011
Regarding Rulemaking: XXV. Whistleblowers
See Also:
Correction: 17 CFR Part 165
Implementing the Whistleblower Provisions of Section 23 of the Commodity Exchange Act12/3/2010 17 CFR Parts 23 and 190
Protection of Collateral of Counterparties to Uncleared Swaps; Treatment of Securities in a Portfolio Margining Account in a Commodity Broker BankruptcyComment File - Extended Date: 6/3/2011
Regarding Rulemaking: VI. Segregation & Bankruptcy
11/23/2010 17 CFR Part 23
Regulations Establishing and Governing the Duties of Swap Dealers and Major Swap ParticipantsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IV. Business Conduct Standards - Internal
11/23/2010 17 CFR Part 23
Implementation of Conflicts of Interest Policies and Procedures by Swap Dealers and Major Swap ParticipantsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IV. Business Conduct Standards - Internal
11/23/2010 17 CFR Parts 3, 23 and 170
Registration of Swap Dealers and Major Swap ParticipantsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: I. Registration
11/19/2010 17 CFR Part 3
Designation of a Chief Compliance Officer; Required Compliance Policies; and Annual Report of a Futures Commission Merchant, Swap Dealer, or Major Swap ParticipantComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IV. Business Conduct Standards - Internal
11/19/2010 17 CFR Part 48
Registration of Foreign Boards of TradeComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XIV. FBOT Registration
11/17/2010 17 CFR Part 1
Implementation of Conflicts of Interest Policies and Procedures by Futures Commission Merchants and Introducing BrokersComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IV. Business Conduct Standards - Internal
11/3/2010 17 CFR Parts 1 and 30
Investment of Customer Funds and Funds Held in an Account for Foreign Futures and Foreign Options TransactionsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XXIX. Alternatives to Credit Ratings
11/3/2010 17 CFR Part 180
Prohibition of Market ManipulationComment File - Closing Date: 1/3/2011
Regarding Rulemaking: XXIII. Anti-Manipulation
11/2/2010 17 CFR Parts 1 and 4
Removing Any Reference to or Reliance on Credit Ratings in Commission Regulations; Proposing Alternatives to the Use of Credit RatingsComment File - Closing Date: 12/2/2010
Regarding Rulemaking: XXIX. Alternatives to Credit Ratings
11/2/2010 17 CFR Parts 15 and 20
Position Reports for Physical Commodity SwapsComment File - Closing Date: 12/2/2010
Regarding Rulemaking: XXXII. Large Swaps Trader Reporting
11/2/2010 17 CFR Parts 39 and 140
Process for Review of Swaps for Mandatory ClearingComment File - Extended Date: 6/3/2011
Regarding Rulemaking: VIII. Process for Review of Swaps
11/2/2010 17 CFR Part 40
Provisions Common to Registered EntitiesComment File - Closing Date: 1/3/2011
Regarding Rulemaking: XV. Rule Certification
10/27/2010 17 CFR Part 162
Business Affiliate Marketing and Disposal of Consumer Information RulesComment File - Closing Date: 12/27/2010
Regarding Rulemaking: XXX. FCRA and GLB
10/27/2010 17 CFR Part 160
Privacy of Consumer Financial Information; Conforming Amendments Under Dodd-Frank ActComment File - Closing Date: 12/27/2010
Regarding Rulemaking: XXX. FCRA and GLB
10/26/2010 17 CFR Part 1
Agricultural Commodity DefinitionComment File - Extended Date: 6/3/2011
Regarding Rulemaking: XIX. Agricultural Swaps
10/18/2010 17 CFR Parts 1, 37, 38, 39, and 40
Requirements for Derivatives Clearing Organizations, Designated Contract Markets, and Swap Execution Facilities Regarding the Mitigation of Conflicts of InterestComment File - Extended Date: 6/3/2011
Regarding Rulemaking: IX. Governance & Possible Limits
10/14/2010 17 CFR Parts 39 and 140
Financial Resources Requirements for Derivatives Clearing OrganizationsComment File - Extended Date: 6/3/2011
Regarding Rulemaking: VII. DCO Core Principles
X. Systemically Important DCO RulesProposed Exemptive Orders
Publication
DateProposed Order Details
8/28/201277 FR 52137 // PDF Version
Proposed Order and Request for Comment on a Petition From Certain Independent System Operators and Regional Transmission Organizations To Exempt Specified Transactions Authorized by a Tariff or Protocol Approved by the Federal Energy Commission or the Public Utility Commission of Texas From Certain Provisions of the Commodity Exchange Act
Comment File - Closing Date: 9/27/2012
8/23/201277 FR 50998 // PDF Version
Proposal To Exempt Certain Transactions Involving Not-for-Profit Electric Utilities; Request for Comments
Comment File - Closing Date: 9/24/20127/12/2012 77 FR 41110 // PDF Version
17 CFR Chapter I
Exemptive Order Regarding Compliance With Certain Swap Regulations
Comment File - Closing Date: 8/13/20125/16/2012 77 FR 28819 // PDF Version
17 CFR Chapter 1Second Amendment to July 14, 2011 Order for Swap Regulation
Comment File - Closing Date: 5/30/201210/25/2011 17 CFR Chapter 1
Effective Date for Swap RegulationComment File - Closing Date: 11/25/2011
6/17/2011 17 CFR Chapter 1
Effective Date for Swap RegulationComment File - Closing Date: 7/1/2011
Advanced Notices of Proposed Rulemaking
Publication
DateAdvanced Notice Details 12/2/2010 17 CFR Part 190
Protection of Cleared Swaps Customers Before and After Commodity Broker BankruptciesComment File - Closing Date: 1/18/2011
Regarding Rulemaking: VI. Segregation & Bankruptcy
11/2/2010 17 CFR Part 1
Antidisruptive Practices Authority Contained in the Dodd-Frank Wall Street Reform and Consumer Protection ActComment File - Closing Date: 1/3/2011
Regarding Rulemaking: VI. Disruptive Trading Practices
9/28/2010 17 CFR Part 35
Agricultural SwapsComment File - Closing Date: 10/28/2010
Regarding Rulemaking: XIX. Agricultural Swaps
8/20/2010 Commodity Futures Trading Commission 17 CFR Part 1 Securities and Exchange Commission 17 CFR Part 240 Definitions Contained in Title VII of Dodd-Frank Wall Street Reform and Consumer Protection Act
Comment File - Closing Date: 9/20/2010
Regarding Rulemaking: II. Definitions
XXI. Joint Rules w/ SECOther Notices
Publication
DateNotice Details 5/4/2011 17 CFR Chapter 1
Reopening and Extension of Comment Periods for Rulemakings Implementing the Dodd-Frank Wall Street Reform and Consumer Protection ActComment File - Closing Date: 6/3/2011
See Also:
