The CFTC adopted technical corrections to data privacy rules.
Chairman Heath P. Tarbert supported the final rule for (i) addressing security hazards to customer data and (ii) mandating certain protections against unauthorized access to such data.
Commissioner Dawn D. Stump said that the policies and procedures that firms will be required to implement are "reasonably designed" to protect customer records.
An effective date will be announced upon the final rule's publication in the Federal Register.
CFTC-proposed technical corrections to data privacy rules were published in the Federal Register.
The CFTC approved (i) three foreign board of trade applications submitted by European entities and (ii) technical corrections to consumer data privacy rules.
CFTC Commissioner Brian Quintenz criticized prior CFTC leadership as having exceeded statutory authority in cross-border matters and urged the agency to mitigate market fragmentation through deference in regulatory oversight.
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