Release: #4604-02
For Release: February 7, 2002

CFTC Publishes Privacy Brochure for Financial Intermediaries

CFTC Brochure Designed to Help FCMs, CTAs, CPOs and IBs Meet March 31, 2002 Compliance Date

WASHINGTON, D.C. -- The Commodity Futures Trading Commission (CFTC) today published a brochure entitled Financial Privacy Requirements: What Futures Industry Intermediaries Need to Know. This non-technical brochure is designed to help futures commission merchants (FCMs), commodity trading advisors (CTAs), commodity pool operators (CPOs) and introducing brokers (IBs) comply with the CFTC’s rules on consumers’ rights to financial privacy. Compliance with these rules is mandatory by March 31, 2002.

As explained in the brochure, by March 31, 2002, FCMs, CTAs, CPOs and IBs must provide their existing customers with a privacy notice, an opt out notice (if necessary), and a reasonable amount of time to opt out. The financial privacy rules also require FCMs, CTAs, CPOs and IBs to develop policies and procedures to safeguard and protect customer records and information.

The brochure is available from the CFTC’s website at Printed copies are also available upon request from the Office of Public Affairs (202-418-5080).

Dennis Holden, 202-418-5080
Nancy Yanofsky, 202-418-5260