CFTC Regulatory Update

By: David S. Mitchell, Carol Epstein

The Commodity Futures Trading Commission (the "Commission" or "CFTC") is proposing for public comment certain amendments to Rule 18.05 which would (i) require a person holding or controlling a reportable futures or option position to retain books and records and make available to the Commission upon request any pertinent information with respect to all other positions and transactions in the commodity in which the trader has a reportable position, including positions held or controlled or transactions which are executed over-the-counter, on exempt trading platforms, or on foreign exchanges and (ii) expand its applicability with respect to hedging activity. 72 Fed. Reg. 34413 (June 22, 2007).

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