Alert July 03, 2012

CFTC Proposes Rules to Enhance Identification of Futures and Swap Market Participants

The CFTC withdrew a July 2010 rule proposal and published a new rule proposal to collect account ownership and control information.  The new proposal would require the electronic submission of expanded trader identification and market participant data on various new and amended forms; it would also collect ownership and control information through an ownership and control report for trading accounts that are active on designated contract markets or swap execution facilities.  The proposed rules are intended to help the CFTC better deter and prevent market manipulation and abusive or disruptive trading practices, and to help it better perform risk-based monitoring and surveillance. 

Comments are due 60 days after the proposal’s forthcoming publication in the Federal Register