Regulatory Alerts2017-01-19 | 2017-01148Commodity Futures Trading Commission Proposed Rule on Recordkeeping
The Commodity Futures Trading Commission proposes to amend its recordkeeping regulations to allow recordkeepers to leverage modern information technology for retaining and producing records. The proposal eliminates outdated requirements for native file formats, WORM storage, and third-party technical consultants while maintaining safeguards for record integrity and accessibility. These changes aim to reduce compliance costs and cybersecurity risks for entities subject to the Commodity Exchange Act.
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