The CFTC released on July 21, 2010, the list of 30 areas of rulemaking to implement the Wall Street Reform and Consumer Protection Act. Some of these areas will require only one rule, while others may require more. The CFTC is required to complete these rules generally in 360 days from enactment, though some are required to be completed within 90, 180 or 270 days.
The Commission has begun preparing for the task of writing rules for the swaps marketplace by identifying 30 topic areas where it determined rulemaking to be necessary. Teams of staff within the agency have been assigned to each rulemaking area and will see the process through, from analyzing the statute’s requirements, to broad consultation, to recommending proposed rulemakings to publishing final rules.
The rulemaking areas have been divided into eight groups: Comprehensive Regulation of Swap Dealers & Major Swap Participants; Clearing; Trading; Data; Particular Products; Enforcement; Position Limits; and Other Titles.
The Commission is requesting input from the public on each of the rulemaking areas. Instructions for submitting views can be accessed on the individual rule-writing pages on the CFTC’s Web site at: http://www.cftc.gov/LawRegulation/DoddFrankAct/Rulemakings/index.htm.