Regulatory Alerts2015-12-24 | 2015-32416Records of Commodity Interest and Related Cash or Forward Transactions
The Commodity Futures Trading Commission amended Regulation 1.35(a) to require that all records be maintained in a form and manner permitting prompt, accurate, and reliable location, access, and retrieval. The rule excludes unregistered members of designated contract markets and swap execution facilities from requirements to keep written communications, text messages, and records in a specific form, while also excluding commodity trading advisors from oral recordkeeping obligations. Additionally, the Commission clarified that records of communications leading to transaction execution need not be kept in a manner allowing for the identification of a particular transaction, provided they remain searchable.
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