Regulatory Alerts2018-08-27 | 2018-18432Chief Compliance Officer Duties and Annual Report Requirements for Futures Commission Merchants, Swap Dealers, and Major Swap Participants
The Commodity Futures Trading Commission issued final rules amending regulations governing the duties of chief compliance officers and annual reporting requirements for futures commission merchants, swap dealers, and major swap participants. The amendments clarify the CCO's reporting line to the senior officer, refine duties regarding the administration of compliance policies and procedures, and harmonize CFTC rules with corresponding SEC regulations. Additionally, the rule modifies the CCO Annual Report requirements by eliminating the need to address each specific regulatory requirement and adding the audit committee as a required recipient of the report.
Share