Release:             #4511-01
For Release:     April 27, 2001

Commodity Futures Trading Commission Issues Final Privacy Regulations Implementing Notice Requirements and Restrictions on the Ability of Financial Institutions Subject to Its Jurisdiction to Disclose Nonpublic Personal Information About Consumers to Nonaffiliated Third Parties

WASHINGTON—As required by the Commodity Futures Modernization Act of 2000 (CFMA), the Commodity Futures Trading Commission (Commission) on April 20, 2001, issued final privacy regulations implementing notice requirements and restrictions on the ability of financial institutions subject to its jurisdiction to disclose nonpublic personal information about consumers to nonaffiliated third parties.

The CFMA provides that the Commission shall be treated as a federal functional regulator within the meaning of Title V of the Gramm-Leach-Bliley Act and that futures commission merchants, commodity trading advisors, commodity pool operators and introducing brokers subject to the Commission’s jurisdiction shall be treated as financial institutions within the meaning of Title V. Section 5g of the Commodity Exchange Act, as amended by the CFMA, directs the Commission to prescribe regulations under Title V to limit the instances in which a financial institution may disclose nonpublic personal information about a consumer to nonaffiliated third parties and to require financial institutions to disclose to its consumers its privacy policies and practices with respect to information sharing with both affiliates and nonaffiliated third parties.

The final rule was published in the Federal Register on April 27, 2001. Copies may be obtained by contacting the Office of the Secretariat, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, N.W. Washington, D.C. 20581 (202) 418-5100 or by accessing the Commodity Futures Trading Commission website.