The CFTC Division of Swap Dealers and Intermediary Oversight urged chief compliance officers "to take reasonable measures" to incorporate recent swap dealer reporting guidance into 2019 annual compliance reports.
The National Futures Association reminded certain futures commission merchants and retail foreign exchange dealers that regulatory filings will be affected due to the Christmas and New Year's Day holidays.
The CFTC proposed amendments that would (i) define the term "senior officer," (ii) clarify the responsibilities of a chief compliance officer ("CCO") employed by a futures commission merchant, swap dealer or major swap participant, and (iii) modify the content and submission requirements of a CCO annual report.
The CFTC proposed rule amendments that would (i) define the term "senior officer," (ii) clarify the responsibilities of a chief compliance officer employed by a futures commission merchant, swap dealer, or major swap participant, and (iii) modify the content and submission requirements of a CCO annual report.
The CFTC requested comment on proposed amendments that apply to reports to be filed by futures commission merchants, swap dealers and major swap participants. The comment request was published in the Federal Register.
The CFTC requested comments on proposed amendments to provide futures commission merchants, swap dealers and major swap participants additional time to file chief compliance officer annual reports and to clarify the timing of filing requirements for "Comparable Annual Reports".
The CFTC Division of Swap Dealer and Intermediary Oversight clarified the necessary elements of reporting line requirements for chief compliance officers. It also outlined supervisory relationships that chief compliance officers may maintain with senior management other than the board or the senior officer.
The NFA ordered a company to withdraw permanently from NFA membership, and to refrain from acting as the principal of an NFA member, due to allegations of NFA supervisory, capital and recordkeeping violations.
The CFTC requested comments on an Information Collection Request that was made under CFTC Rule 3.3. The rule requires each futures commission merchant ("FCM"), swap dealer ("SD") and major swap participant ("MSP") file a Form 8-R in order to designate the chief compliance officer who is responsible for the development and administration of policies and procedures that fulfill certain FCM, SD or MSP duties in order to ensure compliance with the CEA and CFTC rules. The request for comments was published in the Federal Register.
The CFTC solicited comments on required notices of intent regarding mandated information collection. The information includes (i) certain recordkeeping and reporting requirements imposed on the following entities: swap dealers, major swap participants and swap counterparties that are neither swap dealers nor major swap participants; and (ii) the collection of certain other information mandated by CFTC Rule 3.3 ("Chief Compliance Officer").
The National Futures Association ("NFA") issued a notice advising members that FCMs are now required to file Risk Exposure Reports with the NFA on a quarterly basis and Chief Compliance Officer ("CCO") Reports with the NFA on an annual basis. Regarding Risk Exposure Reports, beginning with...
The CFTC's Division of Swap Dealer and Intermediary Oversight issued two time-limited no-action letters regarding the annual reporting requirements for chief compliance officers ("CCOs") pursuant to CFTC Rule 3.3 ("Chief Compliance Officer"). The first letter provided no-action relief from CFTC...
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