September 22, 2018

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CFTC Approves Amendments to Commission Regulations Under Parts 3 and 9

On January 9, the Commodity Futures Trading Commission announced it had unanimously approved final rules that update Parts 3 (Registration) and 9 (Review of Exchange Disciplinary, Access Denial or Other Adverse Actions). These updates integrate existing advisory guidance, incorporate swap execution facilities, and update provisions currently applicable to designated contract markets. The CFTC also approved an updated notice and order for the National Futures Association (NFA) to manage exchange disciplinary and access denial notices.

The amended rules will be effective 60 days after publication in the Federal Register.

CFTC’s Release is available here.

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About this Author

Kevin M. Foley, Finance Lawyer, Katten Llaw Firm
Partner

Kevin M. Foley has extensive experience in commodities law and advises a wide range of clients, both in the United States and abroad, on compliance with the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC) affecting traditional exchange-traded products, as well as the over-the-counter markets involving swaps and other derivative instruments. His clients include futures commission merchants, derivatives clearing organizations, designated contract markets, foreign boards of trade and an industry trade association.

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312-902-5372
Timothy Nolan, Katten Law Firm, Chicago, Corporate Law Attorney
Associate

Timothy Nolan concentrates his practice on transactional, corporate and regulatory aspects of financial services matters. Timothy is able to provide legal services to a wide variety of clients, including proprietary trading firms, hedge funds, broker-dealers, registered investment advisers, commodity trading advisers, financial institutions and general corporate clients.

Prior to joining Katten, Timothy served as the CEO and the president of the board of directors of a small commercial real estate company and spent 10 years in the scrap recycling industry, including several years as general manager of a mid-sized company. In his time in the scrap recycling industry, Timothy worked with traders, brokers, importers and exporters, and other industry professionals around the world relating to ferrous, non-ferrous and precious metal recycling, together with paper and plastic recycling.

312-902-5447