For Release: January 22, 2007
CFTC Adopts Rule Requiring FCMs to Become Members of a Registered Futures Association
Washington, D.C. – The Commodity Futures Trading Commission (CFTC) announced that it has finalized an amendment to regulation 170.15(a) that will require persons that are fully registered as a futures commission merchant (FCM), regardless of whether they are required to be so registered, to become members of a registered futures association (RFA). The action will further the goals of industry self-regulation and Commission oversight, a cornerstone of the Commodity Futures Modernization Act of 2000, by ensuring that an RFA, and not the Commission, will be responsible for monitoring the activities of FCMs in the first instance.
The rule amendment is being published in the Federal Register and will be effective 30 days after publication. Copies of the rule may be obtained by contacting the Commission’s Office of the Secretariat, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5100 or by accessing the Commission’s website, www.cftc.gov.
R. David Gary
Last Updated: April 18, 2007