In his opening remarks for the CFTC’s Commodities Trading Conference on August 25, 2011, CFTC Chairman Gary Gensler stated “It is my hope that we vote on two proposed rulemakings seeking additional public comment on the implementation phasing of swap transaction compliance that would affect the broad array of market participants.” According to Mr. Gensler, the proposed rulemakings would provide the public an opportunity to comment on compliance schedules applying to core areas of Dodd-Frank reform, including:
- the swap clearing and trading mandates, and
- the internal business conduct documentation requirements and margin rules for uncleared swaps.
Mr. Gensler also noted “Starting next month, we are likely to take up rules relating to position limits, clearinghouse core principles, business conduct and entity definitions, trading, data reporting and the end-user exemption.”
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