Regulatory Alerts2024-01-24 | 2023-28745Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants
The Commodity Futures Trading Commission proposes rules requiring futures commission merchants, swap dealers, and major swap participants to establish an Operational Resilience Framework addressing information security, third-party relationships, and business continuity. The framework mandates specific programs supported by governance, training, testing, and recordkeeping standards to mitigate operational risks and ensure service delivery during disruptions. Additionally, the proposal introduces requirements for notifying the Commission and counterparties of significant incidents and provides guidance on managing third-party service provider risks.
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