Proposed rules: Registration of Swap Dealers and Major Swap Participants
The CFTC unveiled two proposals on Wednesday that would require funds, commodity pools and commodity trading advisors file reports to regulators on their operations, part of a sweeping series of Wall Street reforms. The futures regulator's five commissioners voted unanimously to support the plans at a public meeting.
Scott O'Malia, a Republican commissioner, said the new requirements would rescind certain reporting requirement exemptions for commodity pool operators (CPOs) and commodity trading advisors (CTAs).
"I continue to support the repeal of certain exclusions to registrational requirements for CPOs and CTAs so that we can close the regulatory gap that allows some registered companies to offer futures only products outside of the commission's jurisdiction, especially its anti-fraud authority," he said.
Publication
Reuters
Date
January 26, 2011
Cross References
Dodd-Frank Act, Title IV, Secs. 404 406; CFTC Rules 4.5, 4.7, and 4.13(a)(3) (4)