📈CFTC Announces Compliance Reporting Requirements for Chief Compliance Officers
Agency Information Collection Activities: Notice of Intent To Extend Collection Number 3038-0080: Annual Report for Chief Compliance Officer of Registrants
Summary
The Commodity Futures Trading Commission ("Commission" or "CFTC") is announcing an opportunity for public comment on the proposed renewal of a collection of certain information by the agency. Under the Paperwork Reduction Act ("PRA"), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the collections of information mandated by Commission Regulation 3.3 (Chief Compliance Officer).
Agencies
- Commodity Futures Trading Commission
Business Impact
$$$ - High
The text outlines a regulatory compliance requirement for swap dealers, major swap participants, and futures commission merchants to designate a Chief Compliance Officer and submit annual compliance reports. This affects operational practices and potential liability, indicating significant regulatory oversight that business owners must adhere to.