September 28, 2010
CFTC Seeks Comment Regarding Agricultural Swaps
Washington, DC – The Commodity Futures Trading Commission today published an Advance Notice of Proposed Rulemaking (ANPRM) seeking public comment regarding the appropriate regulatory treatment of agricultural swaps.
The Dodd-Frank Wall Street Reform and Consumer Protection Act provides that swaps in an “agricultural commodity” (as defined by the Commission) are prohibited unless entered into pursuant to a rule, regulation or order of the Commission adopted pursuant to section 4(c) of the Commodity Exchange Act, the Commission’s general exemptive authority.
The ANPRM reviews the current statutory and regulatory framework governing agricultural swaps, as well as the Dodd-Frank Act provisions applicable to agricultural swaps. The ANPRM also requests comment on the appropriate conditions, restrictions or protections to be included in any Commission rule, regulation or order governing the trading of agricultural swaps.
R. David Gary
Last Updated: September 28, 2010