Regulatory Alerts2012-12-21 | 2012-30691Adaptation of Regulations To Incorporate Swaps-Records of Transactions
The Commodity Futures Trading Commission amends regulations 1.31 and 1.35(a) to align recordkeeping requirements for futures commission merchants, introducing brokers, and designated contract market members with the Dodd-Frank Act framework. The final rule mandates that these entities record all oral and written communications concerning quotes, bids, offers, and trading that lead to the execution of commodity interest transactions. Oral records must be retained for one year, while written records must be kept for five years, with compliance required by December 21, 2013.
Share