[Federal Register Volume 75, Number 165 (Thursday, August 26, 2010)]
[Notices]
[Pages 52512-52513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-21269]
=======================================================================
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
Acceptance of Public Submissions on the Wall Street Reform and
Consumer Protection Act and the Rulemakings That Will Be Proposed by
the Commission
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice; Acceptance of public submissions.
-----------------------------------------------------------------------
SUMMARY: The Dodd-Frank Wall Street Reform and Consumer Protection Act
(``Dodd-Frank Act'') was enacted on July 21, 2010. The Dodd-Frank Act,
among other things, will bring comprehensive regulation to the over-
the-counter (``OTC'') derivatives marketplace for the first time. The
Commodity Futures Trading Commission (``CFTC'' or ``Commission'') will
be implementing the Dodd-Frank Act by adopting rules to regulate the
OTC derivatives market. The Commission welcomes the views of interested
parties on the Dodd-Frank Act and the rulemakings that it will
implement thereunder. The views of interested parties may be considered
in the pre-proposal process but will not be treated as official
comments on specific proposed rulemakings. As discussed in this notice,
the Commission has made electronic mailboxes available for any
submissions interested parties wish to make. Interested parties are
advised that all submissions will be published on the Commission's Web
site without review and without removal of the submitter's identifying
information.
DATES: The Commission will accept submissions on each rulemaking topic
until it publishes a proposed rulemaking for that topic in the Federal
Register. Thereafter, the Commission will accept official comments on
the proposed rulemaking until the close of the rulemaking's official
comment period.
ADDRESSES: Submissions should be made to David Stawick, Secretary,
Commodity Futures Trading Commission, by electronic mail to the
electronic mailboxes specified herein. All submissions should be in
English, or if not, accompanied by an English translation. Reference
should be made in the subject line of the electronic mail to the
rulemaking category on which views are being submitted, which is
provided with their associated mailboxes.
FOR FURTHER INFORMATION CONTACT: Beverly E. Loew, Office of the General
Counsel, Commodity Futures Trading Commission, Three Lafayette Centre,
1155 21st Street, NW., Washington, DC 20581. Telephone: (202) 418-5648.
SUPPLEMENTARY INFORMATION:
On July 21, 2010, The Dodd-Frank Wall Street Reform and Consumer
Protection Act (``Dodd-Frank Act''), Public Law 111-203, was enacted.
The Dodd-Frank Act will bring comprehensive regulation to the OTC
market. The Dodd-Frank Act authorizes the Commission to, among other
things:
Regulate OTC derivatives dealers by subjecting them to
capital and margin requirements to lower risk in the financial system,
by requiring them to meet robust business conduct standards to lower
risk and promote market integrity, and by requiring them to meet
recordkeeping and reporting requirements so that regulators can police
the markets.
Increase transparency in the derivatives marketplace by
requiring standardized derivatives to be traded on regulated exchanges
or swap execution facilities, instead of trading out of sight of the
public.
Lower risk by moving standardized derivatives into central
clearinghouses.
The Commission has identified 30 areas in the Dodd-Frank Act in
which rulemaking will be necessary and has received inquiries from
interested persons wishing to submit their views on those areas. The
Commission welcomes the views of all interested parties.
The Commission has established electronic mailboxes for 29 of the
30 rulemaking areas to facilitate the acceptance of submissions from
interested parties. In addition, the Commission has established a
mailbox for general comments on the Commission's rulemakings under the
Dodd-Frank Act that either do not fit into one of the issue areas or
that cover more than one area. The Commission is no longer accepting
public submissions in the Retail Off-Exchange Foreign Currency area
because the official public comment period for that proposed rulemaking
closed on March 22, 2010. Prior to the publication of proposed
rulemakings and commencement of official comment periods on regulations
proposed under the Dodd-Frank Act, persons interested in making their
views known on a particular rulemaking area may submit them by
electronic mail to the mailbox associated with the area. The 30
rulemaking areas identified by the Commission are available on the
Commission's Web site at http://www.cftc.gov/LawRegulation/OTCDerivatives/otc_rules.html. The electronic mail addresses for each
rulemaking area are available by clicking on the hyperlink available
for each area and additionally are provided herein:
Comprehensive Regulation of Swap Dealers & Major Swap
Participants
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Registration................................ [email protected]
Definitions, such as Swap Dealer, Major Swap [email protected]
Participant, Security-Based Swap Dealer,
and Major Security-Based Swap Participant,
to be Written Jointly with SEC.
Business Conduct Standards with [email protected]
Counterparties.
Internal Business Conduct Standards......... [email protected]
Capital & Margin for Non-banks.............. [email protected]
Segregation & Bankruptcy for both Cleared [email protected]
and Uncleared Swaps.
----------------------------------------------------------------------------------------------------------------
Clearing
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
DCO Core Principle Rulemaking, [email protected]
Interpretation & Guidance.
Process for Review of Swaps for Mandatory [email protected]
Clearing.
Governance & Possible Limits on Ownership & [email protected]
Control.
[[Page 52513]]
Systemically Important DCO Rules Authorized [email protected]
Under Title VIII.
End-user Exception.......................... [email protected]
----------------------------------------------------------------------------------------------------------------
Trading
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
DCM Core Principle Rulemaking, [email protected]
Interpretation & Guidance.
SEF Registration Requirements and Core [email protected]
Principle Rulemaking, Interpretation &
Guidance.
New Registration Requirements for Foreign [email protected]
Boards of Trade.
Rule Certification & Approval Procedures [email protected]
(applicable to DCMs, DCOs, SEFs).
----------------------------------------------------------------------------------------------------------------
Data
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Swap Data Repositories Registration [email protected]
Standards and Core Principle Rulemaking,
Interpretation & Guidance.
Data Recordkeeping & Reporting Requirements. [email protected]
Real Time Reporting......................... [email protected]
----------------------------------------------------------------------------------------------------------------
Particular Products
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Agricultural Swaps.......................... [email protected]
Foreign Currency (Retail Off-Exchange)...... Comment period closed on March 22, 2010.
Joint Rules with SEC, such as ``Swap'' and [email protected]
``Security-Based Swap''.
Portfolio Margining Procedures.............. [email protected]
----------------------------------------------------------------------------------------------------------------
Enforcement
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Anti-Manipulation........................... [email protected]
Disruptive Trading Practices................ [email protected]
Whistleblowers.............................. [email protected]
----------------------------------------------------------------------------------------------------------------
Position Limits
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Position Limits, including Large Trader [email protected]
Reporting, Bona Fide Hedging Definition &
Aggregate Limits.
----------------------------------------------------------------------------------------------------------------
Other Titles and General Comments
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Investment Adviser Reporting................ [email protected]
Volcker Rule................................ [email protected]
Reliance on Credit Ratings.................. [email protected]
Fair Credit Reporting Act and Disclosure of [email protected]
Nonpublic Personal Information.
Submissions on the Dodd-Frank Act [email protected]
Rulemakings Not Falling into.
----------------------------------------------------------------------------------------------------------------
Interested parties are hereby advised that the views they submit in
the pre-proposal process to the Commission will not be treated as
official comments on any of the proposed rulemakings. Interested
parties who wish to submit official comments on a rulemaking should
submit them during the comment period commencing with the notice of
proposed rulemaking published by the Commission in the Federal
Register.
Interested parties also should be advised that all submissions
provided in any electronic form or on paper will be published on the
Commission's Web site. The submissions will not be subject to pre-
publication review, and personally identifying information will not be
removed. Interested parties therefore should not submit any information
to the Commission that they do not wish to be made public. All
submissions are subject to the CFTC Privacy Policy, which is available
at http://www.cftc.gov/WebPolicy/index.htm#Privacy.
Issued in Washington, DC, on August 20, 2010, by the Commission.
David Stawick,
Secretary of the Commission.
[FR Doc. 2010-21269 Filed 8-25-10; 8:45 am]
BILLING CODE 6351-01-P