Regulatory Alerts2024-03-19 | 2024-04938Requirements for Designated Contract Markets and Swap Execution Facilities Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions
The Commodity Futures Trading Commission proposes new rules and amendments for designated contract markets and swap execution facilities to establish governance fitness standards and mitigate conflicts of interest impacting market regulation functions. The proposal introduces minimum fitness requirements, structural governance mandates for independent perspectives, and specific duties for Chief Regulatory and Compliance Officers to ensure robust oversight. Additionally, the rulemaking harmonizes notification requirements for ownership changes and updates regulations regarding disciplinary panels and the use of material non-public information.
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