2013-08-05 | 2013-18773

Added · Updated

Core Principles and Other Requirements for Swap Execution Facilities; Correction

The Commodity Futures Trading Commission issued a correction to a final rule regarding the registration and operation of swap execution facilities. This document amends Section 37.702 to clarify financial integrity requirements for routing and clearing transactions, and corrects a statutory reference in Appendix B concerning swaps not susceptible to manipulation. The correction became effective on August 5, 2013, to ensure accurate implementation of Dodd-Frank Act provisions.

Commodity Futures Trading Commission logo

US Federal

Commodity Futures Trading Commission

Click to view thumbnail

(b) Determination of claims—(1) Delegation of authority to determine claims. The General Counsel, and such employees of the Legal Division as the General Counsel may designate are authorized to consider, ascertain, adjust, determine, compromise, and settle claims pursuant to the FTCA, as amended, and the regulations contained in 28 CFR part 14 and in this section. (2) Disallowance of claims. If the General Counsel, or the General Counsel’s designee, denies a claim, the General Counsel or designee shall notify the claimant, or the claimant’s duly authorized agent or legal representative. Dated: July 11, 2013. Richard Cordray, Director, Bureau of Consumer Financial Protection. [FR Doc. 2013–18844 Filed 8–2–13; 8:45 am] BILLING CODE 4810–AM–P COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 37 RIN 3038–AD18 Core Principles and Other Requirements for Swap Execution Facilities; Correction AGENCY: Commodity Futures Trading Commission. ACTION: Final rule; correction. SUMMARY: The Commodity Futures Trading Commission is correcting a final rule that appeared in the Federal Register of June 4, 2013 (78 FR 33476). The final rule applies to the registration and operation of a new type of regulated entity named a swap execution facility, and implements provisions of the Dodd￾Frank Wall Street Reform and Consumer Protection Act. DATES: The effective date of this correction is August 5, 2013. FOR FURTHER INFORMATION CONTACT: Amir Zaidi, Special Counsel, Division of Market Oversight, Commodity Futures Trading Commission, Three Lafayette Center, 1155 21st Street NW., Washington, DC 20581; 202–418–6770; azaidi@cftc.gov. SUPPLEMENTARY INFORMATION: In FR Doc. 2013–12242 appearing on page 33476 in the Federal Register of Tuesday, June 4, 2013, the following corrections are made: § 37.702 [Corrected]

  1. On page 33591, in the second column, in § 37.702 General financial integrity, paragraph (b) is corrected to read as follows: (b) For transactions cleared by a derivatives clearing organization: (1) By ensuring that the swap execution facility has the capacity to route transactions to the derivatives clearing organization in a manner acceptable to the derivatives clearing organization for purposes of clearing; and (2) By coordinating with each derivatives clearing organization to which it submits transactions for clearing, in the development of rules and procedures to facilitate prompt and efficient transaction processing in accordance with the requirements of § 39.12(b)(7) of this chapter. Appendix B to Part 37—Guidance on, and Acceptable Practices in, Compliance With Core Principles [Corrected]
  2. On page 33600, in the second column, under the heading Core Principle 3 of Section 5h of the Act— Swaps Not Readily Susceptible to Manipulation, in paragraph (a)(3), correct the reference to ‘‘section c(5)’’ to read ‘‘section c(4).’’ Dated: July 31, 2013. Christopher J. Kirkpatrick, Deputy Secretary of the Commission. [FR Doc. 2013–18773 Filed 8–2–13; 8:45 am] BILLING CODE 6351–01–P

More like this from CFTC

CFTC published 2 documents in the last 30 days. We email you each new one the day it's published.

Topics
market-abuse
Share