The CFTC set a comment deadline of December 11, 2023 for a proposal that would (i) raise the amount of money required to invest in funds under certain CFTC Rule exemptions with respect to offerings to "qualified eligible persons" and (ii) increase the disclosure requirements applicable to such funds.
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The CFTC proposed raising the amount of money required to invest in funds under CFTC Rule 4.7 ("Exemption from certain part 4 requirements for commodity pool operators with respect to offerings to qualified eligible persons") and increasing the disclosure requirements applicable to such funds.
The CFTC Market Risk Advisory Committee debated clearinghouse and vendor risk management issues and announced the appointment of members to the recently established Interest Rate Benchmark Reform Subcommittee.
The CFTC Market Risk Advisory Committee addressed LIBOR reform initiatives and efforts to develop the Secured Overnight Financing Rate as a viable alternative rate.
At a U.S. House Financial Services Committee hearing, industry members and experts outlined their recommendations for Congress concerning the regulation of cryptocurrencies and initial coin offering markets.