Proposed Rule2023-12832
Derivatives Clearing Organization Risk Management Regulations To Account for the Treatment of Separate Accounts by Futures Commission Merchants
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 15, 2023
Effective
April 14, 2023
Issuing agencies
Commodity Futures Trading Commission
Abstract
On April 14, 2023, the Commodity Futures Trading Commission (Commission or CFTC) published in the Federal Register a notice of proposed rulemaking (NPRM) titled Derivatives Clearing Organization Risk Management Regulations To Account for the Treatment of Separate Accounts by Futures Commission Merchants. The comment period for the NPRM closes on June 13, 2023. The Commission is extending the comment period for this NPRM by an additional 17 days.
Full Text
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<title>Federal Register, Volume 88 Issue 115 (Thursday, June 15, 2023)</title>
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[Federal Register Volume 88, Number 115 (Thursday, June 15, 2023)]
[Proposed Rules]
[Pages 39205-39206]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-12832]
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COMMODITY FUTURES TRADING COMMISSION
17 CFR Part 39
RIN 3038-AF21
Derivatives Clearing Organization Risk Management Regulations To
Account for the Treatment of Separate Accounts by Futures Commission
Merchants
AGENCY: Commodity Futures Trading Commission.
ACTION: Extension of comment period.
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SUMMARY: On April 14, 2023, the Commodity Futures Trading Commission
(Commission or CFTC) published in the Federal Register a notice of
proposed rulemaking (NPRM) titled Derivatives Clearing Organization
Risk Management Regulations To Account for the Treatment of Separate
Accounts by Futures Commission Merchants. The comment period for the
NPRM closes on June 13, 2023. The Commission is extending the comment
period for this NPRM by an additional 17 days.
DATES: The comment period for the NPRM titled Derivatives Clearing
Organization Risk Management Regulations To Account for the Treatment
of Separate Accounts by Futures Commission Merchants, published April
14, 2023 at 88 FR 22934, is extended through June 30, 2023.
[[Page 39206]]
ADDRESSES: You may submit comments, identified by RIN 3038-AF21, by any
of the following methods:
<bullet> CFTC Comments Portal: <a href="https://comments.cftc.gov">https://comments.cftc.gov</a>. Select
the ``Submit Comments'' link for this rulemaking and follow the
instructions on the Public Comment Form.
<bullet> Mail: Send to Christopher Kirkpatrick, Secretary of the
Commission, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581.
<bullet> Hand Delivery/Courier: Follow the same instructions as for
Mail, above.
Please submit your comments using only one of these methods.
Submissions through the CFTC Comments Portal are encouraged.
All comments must be submitted in English, or if not, accompanied
by an English translation. Comments will be posted as received to
<a href="https://comments.cftc.gov">https://comments.cftc.gov</a>. You should submit only information that you
wish to make available publicly. If you wish the Commission to consider
information that you believe is exempt from disclosure under the
Freedom of Information Act, a petition for confidential treatment of
the exempt information may be submitted according to the procedures
established in Sec. 145.9 of the Commission's regulations.\1\ The
Commission reserves the right, but shall have no obligation, to review,
pre-screen, filter, redact, refuse or remove any or all of your
submission from <a href="https://comments.cftc.gov">https://comments.cftc.gov</a> that it may deem to be
inappropriate for publication, such as obscene language.
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\1\ 17 CFR 145.9.
FOR FURTHER INFORMATION CONTACT: Robert B. Wasserman, Chief Counsel,
Division of Clearing and Risk, at 202-418-5092 or <a href="/cdn-cgi/l/email-protection#d7a5a0b6a4a4b2a5bab6b997b4b1a3b4f9b0b8a1"><span class="__cf_email__" data-cfemail="dba9acbaa8a8bea9b6bab59bb8bdafb8f5bcb4ad">[email protected]</span></a>,
or Daniel O'Connell, Special Counsel, Division of Clearing and Risk, at
202-418-5583 or <a href="/cdn-cgi/l/email-protection#c5a1aaa6aaababa0a9a985a6a3b1a6eba2aab3"><span class="__cf_email__" data-cfemail="67030804080909020b0b270401130449000811">[email protected]</span></a>, at the Commodity Futures Trading
Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC
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20581.
SUPPLEMENTARY INFORMATION: On April 14, 2023, the Commission published
in the Federal Register an NPRM proposing to amend the CFTC's
derivatives clearing organization (DCO) risk management regulations
adopted under section 5b of the Commodity Exchange Act to permit
futures commission merchants that are clearing members to treat the
separate accounts of a single customer as accounts of separate entities
for purposes of Commission regulation Sec. 39.13(g)(8)(iii).\2\ The
proposed amendments would add a new paragraph (j) to regulation Sec.
39.13 establishing the conditions under which a DCO may permit such
separate account treatment. The comment period for the NPRM closes on
June 13, 2023. As requested by a commenter, the Commission is extending
the comment period for this NPRM by an additional 17 days.\3\ This
extension of the comment period will allow interested persons
additional time to analyze the proposal and prepare their comments.
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\2\ Derivatives Clearing Organization Risk Management
Regulations To Account for the Treatment of Separate Accounts by
Futures Commission Merchants, 88 FR 22934 (Apr. 14, 2023).
\3\ FIA Letter dated June 9, 2023 to Christopher J. Kirkpatrick.
Issued in Washington, DC, on June 12, 2023, by the Commission.
Christopher Kirkpatrick,
Secretary of the Commission.
NOTE: The following appendix will not appear in the Code of
Federal Regulations.
Appendix to Derivatives Clearing Organization Risk Management
Regulations To Account for the Treatment of Separate Accounts by
Futures Commission Merchants--Commission Voting Summary
On this matter, Chairman Behnam and Commissioners Johnson,
Goldsmith Romero, Mersinger, and Pham voted in the affirmative. No
Commissioner voted in the negative.
[FR Doc. 2023-12832 Filed 6-14-23; 8:45 am]
BILLING CODE 6351-01-P
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