CFTC Extends Comment Period for Proposal on "Operational Resilience Frameworks" for SDs and FCMS

The CFTC extended the comment period until April 1, 2024, for a proposed rule ("NPRM") that would require that futures commission merchants and swap dealers establish and maintain an Operational Resilience Framework ("ORF").

As previously covered, the proposed rule would require that futures commission merchants and swap dealers establish and maintain an ORF focusing on three components: information and technology security, third-party relationships and disruptions to standard business operations.

Prior to the extension, the NPRM was scheduled to expire on March 2, 2024. The NPRM was originally published in the Federal Register on December 18, 2023.