Regulatory Alerts2016-03-11 | 2016-05577Added · Updated
Corrections to Title 17 of the Code of Federal Regulations
The Commodity Futures Trading Commission and the Securities and Exchange Commission issued corrections to multiple sections of Title 17 of the Code of Federal Regulations. The CFTC amendments revise guarantee agreement procedures for introducing brokers and clarify the duration of registration for various market participants. The SEC corrections update an internal office title, fix duplicated and omitted footnotes, and correct a typographical error in a prior rulemaking regarding security-based swap transactions.
COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 3 Registration CFR Correction In Title 17 of the Code of Federal Regulations, Parts 1 to 40, revised as of April 1, 2015, on page 205, in § 3.45, revise paragraph (b) to read as follows: § 3.45 Restrictions upon activities.
(b) An applicant for registration as an introducing broker who has received a temporary license may be guaranteed by a futures commission merchant or retail foreign exchange dealer other than the futures commission merchant or retail foreign exchange dealer which provided the initial guarantee agreement described in § 3.44(a)(1) of this subpart: Provided, That, at least 10 days prior to the effective date of the termination of the existing guarantee agreement in accordance with the provisions of § 1.10 (j)(5) of this chapter, or such other period of time as the National Futures Association may allow for good cause shown, the applicant files with the National Futures Association— (1) Written notice of such termination and (2) A new guarantee agreement with another futures commission merchant or retail foreign exchange dealer effective the day following the last effective date of the existing guarantee agreement.
[FR Doc. 2016–05580 Filed 3–10–16; 8:45 am] BILLING CODE 1505–01–D COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 3 Registration CFR Correction In Title 17 of the Code of Federal Regulations, Parts 1 to 40, revised as of April 1, 2015, on page 188–189, in § 3.10, revise paragraph (b) to read as follows: § 3.10 Registration of futures commission merchants, retail foreign exchange dealers, introducing brokers, commodity trading advisors, commodity pool operators, swap dealers, major swap participants and leverage transaction merchants.
(b) Duration of registration. (1) A person registered as a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor, commodity pool operator or leverage transaction merchant in accordance with paragraph (a) of this section will continue to be so registered until the effective date of any revocation or withdrawal of such registration. Such person will be prohibited from engaging in activities requiring registration under the Act or from representing himself to be a registrant under the Act or the representative or agent of any registrant during the pendency of any suspension of such registration. (2) A person registered as an introducing broker who was a party to a guarantee agreement with a futures commission merchant or retail foreign exchange dealer in accordance with § 1.10(j) of this chapter will have its registration cease thirty days after the termination of such guarantee agreement unless the procedures set forth in § 1.10(j)(8) of this chapter are followed.
[FR Doc. 2016–05577 Filed 3–10–16; 8:45 am] BILLING CODE 1505–01–D
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