CFTC Rulemaking Area Rule - Short Description Title of Federal Register Rule FR Final Rule FR Correction FR Proposed Effective Date Compliance Date Compliance Date Notes Description

Clearing Process for Review of Sw aps Process for Review of Sw aps for Mandatory Clearing 76 FR 44464 9/26/2011 9/26/2011

As of the compliance date, DCOs must begin submitting to the Commission any sw ap,

or group, category, type, or class of sw aps that they plan to accept for clearing.

The CFTC adopted regulations to implement certain provisions of the Dodd-Frank Act. These regulations establish the process by

w hich the CFTC w ill review sw aps to determine w hether the sw aps are required to be cleared.

1/9/2012

All provisions except those for w hich there is a compliance date of May 7, 2012 or

November 8, 2012.

5/7/2012 39.11, 39.12, 39.13 (except for 39.13(g)(8)(i)), 39.14

11/8/2012 39.10(c), 39.13(g)(8)(i), 39.18, 39.19, 39.20

Clearing Exemptions - End-User of Sw aps End-User Exception to the Clearing Requirement for Sw aps 77 FR 42559 9/17/2012 See Notes

Parties w ho chose to elect the exception in this rule w ill need to comply w ith the

requirements applicable upon such election only after compliance w ith the proposed

clearing requirement rule begins.

Final regulations to implement certain provisions of the Dodd-Frank Act. These regulations govern the exception to the clearing

requirement available to sw ap counterparties meeting certain conditions under the CEA, as amended by the Dodd-Frank Act.

Clearing Sw ap Clearing Requirement

Sw ap Transaction Compliance and Implementation Schedule: Clearing Requirement under

Section 2(h) of the CEA 77 FR 44441 9/28/2012 See Notes See clearing requirement rules w hen finalized.

CFTC is adopting regulations to establish a schedule to phase in compliance w ith the clearing requirement under new section

2(h)(1)(A) of the CEA, enacted under Title VII of the Dodd-Frank Act. The schedule w ill provide additional time for compliance w ith

this requirement. This additional time is intended to facilitate the transition to the new regulatory regime established by the Dodd-

Frank Act in an orderly manner that does not unduly disrupt markets and transactions.

10/1/2012

For SDs and MSPs, the compliance date is the later of October 1, 2012 or the date the

SD/MSP registration rules are effective.

See Notes For FCMs, DCMs, and DCOs, these rules are effective October 1, 2012.

See Notes

For SEFs, the rules are effective on the later of October 1, 2012 or the date the rules

implementing the core principles for SEFs are effective.

Clearing Governance & Conflicts of Interest

Governance Requirements for Derivatives Clearing Organizations, Designated Contract

Markets, and Sw ap Execution Facilities; Additional Requirements Regarding the Mitigation of

Conflicts of Interest 76 FR 722 N/A

Proposed regulations to further implement new statutory provisions enacted by Title VII of the Dodd-Frank Act. Specif ically, the

CFTC proposes requirements on the resolution of conflicts of interest in order to further implement core principles applicable to

DCOs, DCMs, and SEFs. Such substantive requirements address reporting, transparency in decision-making, and limitations on use

or disclosure of non-public information, among other things. For DCOs and DCMs, the CFTC also proposes regulations to implement

core principles concerning governance fitness standards and the composition of governing bodies. Finally, for publicly-traded

DCMs, the CFTC proposes regulations to implement the core principle on diversity of Boards of Directors.

Clearing Systemically Important DCO Rules Financial Resources Requirements for Derivatives Clearing Organizations 75 FR 63113 N/A

Proposed rules to implement new statutory provisions enacted by Title VII and Title VIII of the Dodd-Frank Act. The proposed

regulations establish financial resources requirements for DCOs for the purpose of ensuring that they maintain suff icient financial

resources to enable them to perform their functions in compliance w ith the CEA and the Dodd-Frank Act.

Clearing Exemptions - Aff iliated Entities Clearing Exemption for Sw aps Betw een Certain Aff iliated Entities 77 FR 50425 N/A

Proposed rule to exempt sw aps betw een certain aff iliated entities w ithin a corporate group from the clearing requirement (the

``inter-aff iliate clearing exemption'' or the ``proposed exemption'') under Section 2(h)(1)(A) of the CEA. The CFTC also is proposing

rules that detail specif ic conditions counterparties must satisfy to elect the proposed inter-aff iliate clearing exemption, as w ell as

reporting requirements for aff iliated entities that avail themselves of the proposed exemption. The CFTC has finalized a rule that

addresses sw aps that are subject to the end-user exception. Counterparties to inter-aff iliate sw aps that qualify for the end-user

exception w ould be able to elect to not clear sw aps pursuant to the end-user exception or the proposed rule. The proposed rule

does not address sw aps that an affiliate enters into w ith a third party that are related to inter-affiliate sw aps that are subject to

the end-user exception. The CFTC intends separately to propose a rule addressing sw aps betw een an affiliate and a third party

w here the sw aps are used to hedge or mitigate commercial risk arising from inter-aff iliate sw aps for w hich the end-user exception has been elected.

Clearing Clearing Determination - CEA Section 2(h) Clearing Requirement Determination Under Section 2(h) of the CEA 77 FR 47169 N/A

Proposed regulations to establish a clearing requirement under new section 2(h)(1)(A) of the CEA, enacted under Title VII of the

Dodd-Frank Act. The regulations w ould require that certain classes of credit default sw aps (CDS) and interest rate sw aps (IRS),

described herein, be cleared by a derivatives clearing organization (DCO) registered w ith the CFTC. The CFTC also is proposing

regulations to prevent evasion of the clearing requirement and related provisions.

Clearing Exemptions - Cooperatives Clearing Exemption for Certain Sw aps Entered Into by Cooperatives 77 FR 41940 N/A

Proposed rule pursuant to its authority under Section 4(c) of the CEA allow ing cooperatives meeting certain conditions to elect not

to submit for clearing certain sw aps that such cooperatives w ould otherw ise be required to clear in accordance w ith Section

2(h)(1) of the CEA.

Data Sw ap Data Requirements Interim Final Rule for Reporting Pre-Enactment Sw ap Transactions 75 FR 63080 10/14/2010 See Notes 60 days from the date the appropriate SDR is registered w ith the Commission.

The CFTC published an interim final rule to implement new statutory provisions introduced by Title VII of the Dodd-Frank Act.

Section 729 of the Dodd-Frank Act requires the CFTC to adopt, w ithin 90 days of enactment of the Dodd-Frank Act, an interim final

rule for the reporting of sw ap transactions entered into before July 21, 2010 w hose terms had not expired as of that date ("pre-

enactment unexpired sw aps"). Pursuant to this mandate, the CFTC adopted an interim final rule requiring specif ied counterparties

to pre-enactment unexpired sw ap transactions to report certain information related to such transactions to a registered sw ap data

repository or to the CFTC by the compliance date to be established in reporting rules required under Section2(h)(5) of the CEA, or

w ithin 60 days after an SDR becomes registered under Section 21 of the CEA, w hichever occurs first. An interpretive note to the

rule advises that counterparties that may be required to report to an SDR or the CFTC w ill need to preserve information pertaining

to the terms of such sw aps.

Data Post-Enactment Sw ap Transactions Reporting Certain Post-Enactment Sw ap Transactions 75 FR 78892 12/17/2010 12/17/2010 The compliance date and effective date are the same.

The CFTC published for comment an interim final rule to implement new statutory provisions introduced by Title VII of the Dodd-

Frank Act. Section 723 of the Dodd-Frank Act amends Section 2 of the CEA by adding new Section 2(h)(5)(B), w hich directs that

rules adopted by the CFTC under this section shall provide for the reporting of "transition" sw aps--that is, sw aps entered into on

or after the date of enactment of the Dodd-Frank Act and prior to the effective date of sw ap data reporting rules to implement

Section 2(h)(5)(B)--to a registered SDR or to the CFTC Each category of data is subject to a reporting timetable specif ied in Section

2(h)(5). In order to ensure the preservation of data pending implementation of rules implementing the sw ap data reporting

provisions of Section 2(h)(5)(B), the CFTC adopted an interim final rule directing specified counterparties to post-enactment, or

transition, sw ap transactions entered into prior to the effective date of the sw ap data reporting and recordkeeping rules

implementing Section 2(h)(5)(B) of the CEA to retain information pertaining to the terms of such sw aps

9/20/2011

Division of Market Oversight Conditional Relief for Reporting: issued September 16,

2011; provided relief from reporting until November 21, 2011 and January 20, 2012,

respectively, for cleared and uncleared sw aps (see below ).

11/21/2011

Reporting Date for Clearing Organizations and Clearing Members w ith Respect to

Cleared Sw aps.

1/20/2012

Reporting Date for Clearing Organizations and Clearing Members w ith Respect to

Uncleared Sw aps.

See Notes

Division of Market Oversight Conditional No-Action Relief for Less than Fully Compliant

Reporting: issued March 20, 2012; provides relief from fully compliant reporting until

July 2, 2012.

10/31/2012 Provisional registration accepted.

See Notes

Mandatory registration and compliance must occur on the effective date of the final

rule providing further definition of "sw ap".

See Notes

Later of 7/16/2012 or 60 days after the final rules related to the further definition of the

term "sw ap" for sw aps executed on a SEF or DCM, and the later of 7/16/2012 or 60

days after the final rules related to the further definitions of the terms "sw ap", "sw ap

dealer" and "major sw ap participant" for sw aps that are not executed pursuant to the

rules of a SEF or DCM. SEFs, DCMs, SDs and MSPs must report interest rates and

credit asset classes executed on a SEF or DCM or "off-facility" sw aps w here one

counterparty is an SD or MSP. All SDRs for interest rate and credit classes must

accept sw ap transaction and pricing data for those asset classes.

See Notes

90 days after Compliance date 1. SEFs, DCMs, SDs and MSPs must report equity,

FOREX, and other commodity asset classes executed on a SEF or DCM or "off-facility"

sw aps w here one counterparty is an SD or MSP. SDRs for interest rate, credit, equity,

FOREX, and other commodity asset classes must accept and disseminate transactions

for those asset classes.

See Notes

90 days after Compliance date 2. Reporting and public dissemination of all publicly

reportable sw ap transactions in all asset classes by SEFs, DCMs, SDs and MSPS, and

non-SD/MSP to non-SD/MSP off facility transactions.

See Notes

Credit sw aps and interest rate sw aps: the later of July 16, 2012, or 60 calendar days

after the publication in the Federal Register of the later of the Commission's f inal rule

providing further definition of "sw ap dealer" or "major sw ap participant", or the

Commission's f inal rule providing further definition of "sw ap" (Compliance Date 1).

See Notes

Equity sw aps, foreign exchange sw aps, and other commodity sw aps. Compliance

date 2, the compliance date w ith respect to equity sw aps, foreign exchange sw aps,

and other commodity sw aps, shall be 90 calendar days after compliance date 1.

See Notes

Compliance date for non-SD/MSP counterparties. Non-SD/MSP counterparties shall

commence full compliance w ith all provisions of this part for all sw aps on compliance

date 3, w hich shall be 90 calendar days after compliance date 2.

See Notes

Credit sw aps and interest rate sw aps: the later of July 16, 2012, or 60 calendar days

after the publication in the Federal Register of the later of the Commission's f inal rule

providing further definition of "sw ap dealer" or "major sw ap participant", or the

Commission's f inal rule providing further definition of "sw ap" (Compliance Date 1).

See Notes

Equity sw aps, foreign exchange sw aps, and other commodity sw aps. Compliance

date 2, the compliance date w ith respect to equity sw aps, foreign exchange sw aps,

and other commodity sw aps, shall be 90 calendar days after compliance date 1.

See Notes

Compliance date for non-SD/MSP counterparties. Non-SD/MSP counterparties shall

commence full compliance w ith all provisions of this part for all sw aps on compliance

date 3, w hich shall be 90 calendar days after compliance date 2.

Data SDR Confidentiality

Sw ap Data Repositories: Interpretative Statement Regarding the Confidentiality and

Indemnification Provisions of Section 21(d) of the Commodity Exchange Act 77 FR 26709 N/A

CFTC is proposing this interpretative statement to provide guidance regarding the applicability of confidentiality and indem-

nif ication provisions set forth in new section 21(d) of the CEA added by section 728 of the Dodd-Frank Act. The CFTC requests

comment on all aspects of the proposed interpretative statement. The interpretative statement clarif ies that the provisions of

section 21(d) should not operate to inhibit or prevent foreign regulatory authorities from accessing data in w hich they have an

independent and sufficient regulatory interest, even if that data also has been reported pursuant to the CEA and CFTC regulations.

Data Minimum Block Sizes

Procedures to Establish Appropriate Minimum Block Sizes for Large Notional Off-Facility

Sw aps and Block Trades 77 FR 15460 N/A

The CFTC is proposing regulations to implement certain statutory provisions enacted by Title VII of the Dodd-Frank Act. Specif ically,

in accordance w ith section 727 of the Dodd-Frank Act, the CFTC is proposing regulations that w ould define the criteria for

grouping sw aps into separate sw ap categories and w ould establish methodologies for setting appropriate minimum block sizes for

each sw ap category. In addition, the CFTC is proposing further measures under the CFTC's regulations to prevent the public

disclosure of the identities, business transactions and market positions of sw ap market participants.

Enforcement Anti-Manipulation

Prohibition on the Employment, or Attempted Employment, of Manipulative and Deceptive

Devices - Prohibition on Price Manipulation 76 FR 41398 8/15/2011 8/15/2011 The compliance date and effective date are the same.

The CFTC adopted final rules pursuant to section 753 of the Dodd-Frank Act to implement amended subsections (c)(1) and (c)(3)

of section 6 of the CEA. These rules broadly prohibit fraud and manipulation in connection w ith any sw ap, or contract of sale of

any commodity in interstate commerce, or contract for future delivery on or subject to the rules of any registered entity.

Enforcement Whistleblow er Provisions

Final Rules for Implementing the Whistleblow er Provisions of Section 23 of the Commodity

Exchange Act 76 FR 53172 10/24/2011 10/24/2011

For information regarding the Commission’s w histleblow er program, see

http://w w w .cftc.gov/ConsumerProtection/Whistleblow erInformation/index.htm

The CFTC adopted final rules and new forms to implement Section 23 of the CEA, entitled "Commodity Whistleblow er Incentives

and Protection." The rules implement the Dodd-Frank Act’s requirement that the CFTC establish a Whistleblow er program that

requires the CFTC to pay an aw ard, under regulations prescribed by the CFTC and subject to certain limitations, to eligible

Whistleblow ers w ho voluntarily provide the CFTC w ith original information about a violation of the CEA that leads to the successful

enforcement of a covered judicial or administrative action, or a related action.

Enforcement Disruptive Trading Practices Antidisruptive Practices Authority (Proposed Interpretive Order) 76 FR 14943 N/A

The CFTC is proposing this interpretive order to provide interpretive guidance regarding the three statutory disruptive practices set

forth in new section 4c(a)(5) of the CEA pursuant to section 747 of the Dodd-Frank Act. The CFTC requests comment on all

aspects of the proposed interpretive order.

9/21/2012 Phase 1: FCMs, CPOs, CTAs, IBs, RFEDs

See Notes

Phase 2: SDs and MSPs (60 days after the effective date of the final rule providing

further definition of "sw ap dealer" and "Major sw ap participant")

11/21/2011 Phase 1: FCMs, CPOs, CTAs, IBs, RFEDs

See Notes

Phase 2: SDs and MSPs (60 days after the final rule providing further definition of

"sw ap dealer" and "major sw ap participant" is effective)

Other Reliance on Credit Ratings

Removing Any Reference to or Reliance on Credit Ratings in Commission Regulations;

Proposing Alternatives to the Use of Credit Ratings 76 FR 44262 9/23/2011 9/23/2011 The compliance date and effective date are the same.

The CFTC implemented new provisions of Title IX of the Dodd-Frank Act by removing references to or reliance on credit ratings,

and replacing any such reference w ith an appropriate alternative standard.

Other Investment of Customer Funds (1.25)

Investment of Customer Funds and Funds Held in an Account for Foreign Futures and Foreign

Options Transactions 76 FR 78776 2/17/2012 6/18/2012

A futures commission merchant (FCM) or derivatives clearing organization (DCO) that

w as already in compliance w ith Regulation 1.25 as of the effective date may not invest

funds during the period of time betw een the effective date and the compliance date

(the Compliance Period) if such investments w ould cause the FCM or DCO to move out

of compliance. An FCM or DCO that did not comply w ith Regulation 1.25 as of the

effective date has until the compliance date to fully comply. How ever, during the

Compliance Period such an FCM or DCO may only alter its investments in a manner that

advances its efforts to come into compliance – it may not pursue investments that

w ould move it further out of compliance.

The CFTC amended its regulations regarding the investment of customer segregated funds subject to CFTC Regulation 1.25

(Regulation 1.25) and funds held in an account subject to CFTC Regulation 30.7 (Regulation 30.7, and funds subject thereto, 30.7

funds). Certain amendments reflect the implementation of new statutory provisions enacted under Title IX of the Dodd-Frank Act.

The amendments address: certain changes to the list of permitted investments (including the elimination of in-house transactions),

a clarif ication of the liquidity requirement, the removal of rating requirements, and an expansion of concentration limits including

asset-based, issuer-based, and counterparty concentration restrictions. They also address revisions to the acknow ledgment

letter requirement for investment in a money market mutual fund (MMMF), revisions to the list of exceptions to the next-day

redemption requirement for MMMFs, the elimination of repurchase and reverse repurchase agreements w ith affiliates, the

application of customer segregated funds investment limitations to 30.7 funds, the removal of ratings requirements for depositories

of 30.7 funds, the elimination of the option to designate a depository for 30.7 funds, and certain technical changes.

Other CPO / CTA Compliance Obligations Commodity Pool Operators and Commodity Trading Advisors: Compliance Obligations 77 FR 17328 3/26/2012 See Notes See 77 FR 11252 77 FR 17328 is correction to 77 FR 11252.

6/15/2012 Phase 1: Advisers w ith assets under management greater than or equal to $5 billion.

12/15/2012

Phase 2: All entities reporting on Form PF w ith AUM betw een $150 million and $1.5

billion.

9/15/2012 4.27: Phase 1: CPOs w ith assets under management greater than or equal to $5 Bn.

12/15/2012 4.27: Phase 2: All other registered CPOs and CTAs.

See Notes

12/31/2012 or 60 days after the effective date of the final rulemaking further defining

"sw ap". Registration required for entities subject to 4.5.

See Notes

60 days follow ing the final rule implementing the Commission's proposed harmonization

effort for registered investment companies. Entities required to register due to the

amendments to 4.5 shall be subject to the Commission's recordkeeping, reporting, and

disclosure requirements under Part 4.

12/31/2012

4.13(a)(4) (for CPOs claiming exemption prior to 4/24/2012), 4.13(a)(3), 4.7, 4.24, 4.34,

4.14, 4.5 Compliance Date 6: 4/24/2012.

4/24/2012 4.13(a)(4) compliance for all entities not previously exempt under this provision

Other Registration of Intermediaries Registration of Intermediaries 77 FR 51898 10/29/2012 See Notes

The Part 3 regulations only impact a firm once it initiates the registration process as

required by other rules.

The CFTC is adopting regulations to further implement new statutory provisions enacted by Title VII of the Dodd-Frank Act

regarding registration of intermediaries. Specifically, the CFTC is adopting certain conforming amendments to the CFTC's

regulations regarding the registration of intermediaries, consistent w ith other CFTC rulemakings issued pursuant to the Dodd-Frank

Act, and other non- substantive, technical amendments to its regulations.

Other Part 4 Conforming Amendments

Amendments to Commodity Pool Operator and Commodity Trading Advisor Regulations

Resulting From the Dodd-Frank Act 77 FR 54355 11/5/2012 11/5/2012

Persons w ho come w ithin the CPO or CTA definition by virtue of sw aps activity

become subject to applicable disclosure, reporting and recordkeeping requirements.

The CFTC is amending its regulations governing the operations and activities of commodity pool operators (CPOs) and commodity

trading advisors (CTAs) in order to have those regulations reflect changes made to the CEA by the Dodd-Frank Act.

Other Adaptation to Incorporate Sw aps Adaptation of Regulations To Incorporate Sw aps 77 FR 66288 1/2/2013 1/2/2013 The compliance date and effective date are the same.

The Dodd-Frank Act established a comprehensive new statutory framew ork for sw aps and security-based sw aps. The Dodd-

Frank Act repeals some sections of the CEA, amends others, and adds a number of new provisions. The Dodd-Frank Act also

requires the CFTC to promulgate a number of rules to implement the new framew ork. The Commission has proposed and finalized

numerous rules to satisfy its obligations under the Dodd-Frank Act. This rulemaking makes a number of conforming amendments to

integrate the CFTC’s regulations more fully w ith the new framew ork created by the Dodd-Frank Act. This rulemaking contains

amendments of three different types: ministerial, accommodating, and substantive.

Other Harmonization of CPOs and RIAs

Harmonization of Compliance Obligations for Registered Investment Companies Required to

Register as Commodity Pool Operators 77 FR 11345 N/A

The CFTC is proposing amendments to its regulations regarding requirements applicable to investment companies registered under

the Investment Company Act of 1940 (``registered investment companies'') w hose advisors w ill be subject to registration as

commodity pool operators due to changes that the CFTC is adopting.

Other Volcker Rule

Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships

With, Hedge Funds and Covered Funds 77 FR 8332 N/A

The CFTC is requesting comment on a proposed rule that w ould implement Section 619 of the Dodd-Frank Act w hich contains

certain prohibitions and restrictions on the ability of a banking entity and nonbank financial company supervised by the Board of

Governors of the Federal Reserve System (``Board'') to engage in proprietary trading and have certain interests in, or

relationships w ith, a hedge fund or private equity fund (``CFTC Rule''). On November 7, 2011, the Office of the Comptroller of the

Currency, Treasury (``OCC''); the Board; the Federal Deposit Insurance Corporation (``FDIC''); and the SEC published a joint

proposed rule implementing Section 619 of the Dodd-Frank Act (the ``Joint Release''). The CFTC is adopting the entire text of the

proposed common rules section from the Joint Release (the ``Joint Rule'') as part of its proposed rule Similar to the OCC, the Board,

the FDIC, and the SEC in the Joint Release, the CFTC is modifying the Joint Rule w ith CFTC-specific rule text. The CFTC Rule also

contains additional questions specif ic to the CFTC in Section III and does not include Subpart E of the Joint Release because

Subpart E deals exclusively w ith the Board. The Commission solicits comments on all aspects of this proposed rule.

See Notes

Phase 1: Spot month limits in 28 commodities and non-spot month limits in 9 legacy

agricultural commodities. (60 days after the final rule providing further definition of

"sw ap" is published in the Federal Register).

See Notes

Phase 2: Non-spot month limits in 19 commodities (1st calendar day of 3rd calendar

month follow ing publication of order after collecting 12 months of sw ap positional

data).

Position Limits Position Limits - Aggregation Aggregation, Position Limits for Futures and Sw aps 77 FR 31767 N/A

On November 18, 2011, the CFTC published in the Federal Register a final rule and interim final rule, w hich establish a position limits

regime for 28 exempt and agricultural commodity futures and options contracts and the physical commodity sw aps that are

economically equivalent to such contracts. In response to a petition for exemptive relief under the CEA and certain comments to

the CFTC's interim final rule for spot-month limits for cash-settled contracts, this notice proposes certain modif ications to the

CFTC's policy for aggregation under the position limits regime in CFTC regulations.

Products NFA Forex Registration Functions

Performance of Registration Functions by National Futures Association With Respect to Retail

Foreign Exchange Dealers and Associated Persons 75 FR 55310 9/10/2010 9/10/2010 The compliance date and effective date are the same.

The CFTC is authorizing the National Futures Association (‘‘NFA’’), effective September 10, 2010, to process and grant applications

for initial registration, renew ed registration and w ithdraw als of retail foreign exchange dealers (‘‘RFEDs’’) and their associated

persons (‘‘APs’’) and to issue temporary licenses to eligible APs; to conduct proceedings to deny, condition, suspend, restrict or

revoke the registration of any RFED or AP of an RFED, or an applicant for registration in either category; and to maintain records

regarding RFEDs and their APs, and to serve as the off icial custodian of those CFTC records.

Products Off-Exchnage Forex Transactions Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries 75 FR 55409 10/18/2010 10/18/2010 The compliance date and effective date are the same.

The CFTC is adopting a comprehensive regulatory scheme to implement the provisions of the Dodd-Frank Act of 2010 and the

CFTC Reauthorization Act of 2008 w ith respect to offexchange transactions in foreign currency w ith members of the retail public

(i.e., ‘‘retail forex transactions’’). The new regulations and amendments to existing regulations published today establish

requirements for, among other things, registration, disclosure, recordkeeping, f inancial reporting, minimum capital, and other

operational standards.

Products Off-Exchnage Forex Regulation Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries 75 FR 55410 10/18/2010 10/18/2010 The compliance date and effective date are the same.

The CFTC adopted regulations and amendments to existing regulations to establish requirements for, among other things,

registration, disclosure, recordkeeping, f inancial reporting, minimum capital, and other operational standards w ith respect to off-

exchange transactions in foreign currency w ith members of the retail public.

Products Conforming Amendments for Forex

Retail Foreign Exchange Transactions; Conforming Changes to Existing Regulations in

Response to the Dodd-Frank Wall Street Reform and Consumer Protection Act 76 FR 56103 9/12/2011 9/12/2011 The compliance date and effective date are the same.

The CFTC amended its regulations governing off-exchange foreign currency transactions w ith members of the retail public (i.e.,

retail forex transactions). These amendments incorporate into Part 5 of the CFTC's regulations changes made to the CEA by the

Dodd-Frank Act. The CFTC also issued certain related technical interpretations of various provisions of the CEA as amended by

the Dodd-Frank Act w ith respect to retail forex transactions.

Products Agricultural Commodity Definition Agricultural Commodity Definition 76 FR 41048 9/12/2011 9/12/2011 The compliance date and effective date are the same.

The CFTC adopted rules to implement new statutory provisions enacted by Title VII of the Dodd-Frank Act. The Dodd-Frank Act,

w hich amends the CEA, includes provisions applicable to "a sw ap in an agricultural commodity (as defined by the CFTC)." This

release defined that term for purposes of the CEA or CFTC regulations.

Products Retail Forex Transactions

Retail Foreign Exchange Transactions; Conforming Changes to Existing Regulations in

Response to the Dodd-Frank Wall Street Reform and Consumer Protection Act 76 FR 56103 9/12/2011 9/12/2011 The compliance date and effective date are the same.

The CFTC amended its regulations governing off-exchange foreign currency transactions w ith members of the retail public (i.e.,

retail forex transactions). These amendments incorporate into Part 5 of the CFTC's regulations changes made to the CEA by the

Dodd-Frank Act. The CFTC also issued certain related technical interpretations of various provisions of the CEA as amended by

the Dodd-Frank Act w ith respect to retail forex transactions.

Products Agricultural Sw aps Agricultural Sw aps 76 FR 49291 12/31/2011 See Notes Effective date of the final rule providing further definition of "sw ap."

The CFTC finalized rules to implement new statutory provisions enacted by Title VII of the Dodd-Frank Act. The Dodd-Frank Act

provides that sw aps in an agricultural commodity (as defined by the CFTC) are prohibited unless entered into pursuant to a rule,

regulation or order of the CFTC adopted pursuant to certain provisions of the CEA. The CFTC finalized rules that w ould, among

other things, implement regulations w hereby sw aps in agricultural commodities may transact subject to the same rules as all other

sw aps. The rules for sw aps in an agricultural commodity repealed and replaced the CFTC’s regulations concerning the exemption

of sw ap agreements.

1/9/2012

All provisions except those for w hich there is a compliance date of May 7, 2012 or

November 8, 2012.

5/7/2012 39.11, 39.12, 39.13 (except for 39.13(g)(8)(i)), 39.14

11/8/2012 39.10(c), 39.13(g)(8)(i), 39.18, 39.19, 39.20

See Notes

For the final rule and interim final rule – 60 days after the term "sw ap" is further

defined pursuant to section 721 of the Dodd-Frank Act.

See Notes

For purposes of complying w ith rules 32.2(a) (permitting commodity options subject to

the CEA and CFTC rules, including the sw aps rules) and 32.3 (permitting trade

options), the compliance date shall be the compliance date for the rules further defining

the term "sw ap".

See Notes

For Form TO, "Annual Notice Filing for Counterparties to Unreported Trade Options," the

compliance date is March 1, 2014. Form TO, the notice filing requirement that requires

annual reports regarding otherw ise unreported trade options, is effective w ith respect

to calendar year 2013. Therefore, on March 1, 2014, 60 days after the end of calendar

year 2013, the first Forms TO, covering unreported trade options during calendar year

2013, are due. There is no Form TO filing requirement for unreported trade options

entered into betw een the effective date of the commodity options rules and December

31, 2012.

10/12/2012 Final Rules and Interpretations, w ith certain exceptions described below .

See Notes

Effective date of rules to be proposed w ith regard to the regulatory implications of the

interpretation regarding guarantees of sw aps.

2/11/2013

Solely for the purposes of the Order Granting Temporary Exemptions under the

Securities Exchange Act of 1934 in Connection w ith the Pending Revision of the

Definition of "Security" to Encompass Security-Based Sw aps and the Exemptions for

Security-Based Sw aps.

SD / MSP Registration - SD / MSP Registration of Sw ap Dealers and Major Sw ap Participants 77 FR 2613 3/19/2012 See Notes

Persons w ho come w ithin the SD or MSP definition must apply for registration as an SD

or MSP, respectively, by no later than the latest effective date of the regulations

adopted to further define the terms sw ap dealer, major sw ap participant, and sw aps.

Persons w ho believe they w ill come w ithin the MSP or SD definition may apply for

registration as an SD or MSP, respectively, from and after March 19, 2012.

The CFTC adopted regulations under the CEA that establish the process for the registration of sw ap dealers (SDs) and major

sw ap participants (MSPs) and that require SDs and MSPs to become and remain members of a registered futures association. The

CFTC also adopted regulations that define an "associated person" of an SD or MSP as a natural person and that implement the

prohibition on an SD or MSP permitting an associated person w ho is statutorily disqualif ied from registration from effecting or being

involved in effecting sw aps on behalf of the SD or MSP.

SD / MSP Segregation & Bankruptcy for Sw aps

Protection of Cleared Sw aps Customer Contracts and Collateral; Conforming Amendments to

the Commodity Broker Bankruptcy Provisions 77 FR 6336 4/9/2012 11/8/2012

The rules w ill become effective April 9, 2012. All parties must comply w ith the Part 22

rules by November 8, 2012, and w ith the Part 190 rules by April 9, 2012.

The CFTC adopted final regulations to implement new statutory provisions enacted by Title VII of the Dodd-Frank Act. Specif ically,

these regulations impose requirements on futures commission merchants and derivatives clearing organizations regarding the

treatment of cleared sw aps customer contracts (and related collateral), and make conforming amendments to bankruptcy

provisions applicable to commodity brokers under the CEA.

See Notes

Sw ap dealers and major sw ap participants must comply w ith the rules in subpart H of

part 23 on the later of 180 days after the effective date of these rules or the date on

w hich sw ap dealers or major sw ap participants are required to apply for registration

pursuant to Commission rule 3.10.

See Notes

Compliance w ith the follow ing provisions of subpart H is deferred until January 1,

2013: §§ 23.402; 23.410(c); 23.430; 23.431(a)-(c); 23.432; 23.434(a)(2), (b), and (c);

23.440; and 23.450.

§§ 23.200 through 23.205 (Reporting, Recordkeeping, and Daily Trading Records

Requirements for SDs and MSPs): SDs and MSPs currently regulated by U.S. prudential

regulator or registered w ith SEC: The later of 7/2/12 or the date on w hich SDs and

MSPs are required to apply for registration pursuant to § 3.10. SDs and MSPs not

currently regulated by U.S. prudential regulator and not registered w ith SEC: The later

of 9/30/12 or the date on w hich SDs and MSPs are required to apply for registration

pursuant to § 3.10.

§ 23.600 (Risk Management Program for SDs and MSPs): SDs and MSPs currently

regulated by U.S. prudential regulator or registered w ith SEC: The later of 7/2/12 or the

date on w hich SDs and MSPs are required to apply for registration pursuant to § 3.10.

SDs and MSPs not currently regulated by U.S. prudential regulator and not registered

w ith SEC: The later of 9/30/12 or the date on w hich SDs and MSPs are required to

apply for registration pursuant to § 3.10.

§ 23.603 (Business Continuity and Disaster Recovery): SDs and MSPs currently

regulated by U.S. prudential regulator or registered w ith SEC: The later of 9/30/12 or

the date on w hich SDs and MSPs are required to apply for registration pursuant to §

3.10. SDs and MSPs not currently regulated by U.S. prudential regulator and not

registered w ith SEC: The later of 12/29/12 or the date on w hich SDs and MSPs are

required to apply for registration pursuant to § 3.10.

§ 23.601 (Monitoring of Position Limits), § 23.602 (Diligent Supervision), § 23.605

(Conflicts of Interest Policies and Procedures), § 23.606 (General Information:

Availability for Disclosure and Inspection), and § 23.607 (Antitrust Considerations):The

later of 6/4/12 or the date on w hich SDs and MSPs are required to apply for

registration pursuant to § 3.10.

§ 1.71 (Conflicts of Interest Policies and Procedures by FCMs and IBs):FCMs and IBs

registered w ith CFTC as of 6/4/12 must comply by 6/4/12, except that such FCMs need

not comply w ith § 1.71(d) until the later of 6/4/12 or the date on w hich SDs and MSPs

are required to apply for registration pursuant to § 3.10. FCMs and IBs not registered

w ith CFTC as of 6/4/12 must comply upon registration w ith the CFTC, except that such

FCMs need not comply w ith § 1.71(d) until the later of their registration or the date on

w hich SDs and MSPs are required to apply for registration pursuant to § 3.10.

§ 3.3 (Chief Compliance Officer – FCMs, SDs, and MSPs): SDs and MSPs currently

regulated by US prudential regulator or registered w ith SEC: The later of 9/30/12 or the

date on w hich SDs and MSPs are required to apply for registration pursuant to § 3.10.

SDs and MSPs not currently regulated by US prudential regulator and not registered

w ith SEC: The later of 3/29/13 or date on w hich SDs and MSPs are required to apply

for registration pursuant to § 3.10. FCMs (1) registered w ith CFTC as of 6/4/12, and (2)

currently regulated by US prudential regulator or registered w ith SEC: 9/30/12. FCMs

(1) registered w ith CFTC as of 6/4/12, and (2) not currently regulated by US prudential

regulator and not registered w ith SEC: 3/29/13. FCMs not registered w ith CFTC as of

6/4/12 must comply w ith § 3.3 upon registration w ith the CFTC.

10/12/2012

The effective date for the definition of sw ap dealer, major sw ap participant and eligible

contract participant is 60 days after publication in the Federal Register. How ever,

mandatory compliance w ith the registration and other substantive requirements is

contingent on the effective date of the further definition of the term sw ap.

12/31/2012

Generally, compliance w ith the ECP retail forex regime is December 31, 2012. This

compliance date includes the operation of CFTC Regulations §§ 1.3(m)(5) and 1.3(m)(6)

as w ell as the element of §1.3(m)(8)(iii) requiring that a commodity pool be formed by a

registered CPO for any person seeking to rely on such regulation.

See Notes

The effective date of Sw ap Trading Relationship Documentation—§ 23.504 w ill be the

date that is 60 days after publication of the final rules in the Federal Register.

See Notes

The effective date of §§ 23.500 and Sw ap Confirmation—§ 23.501 w ill be the date that

is 60 days after publication of the final rules in the Federal Register.

See Notes

The effective date of Portfolio Reconciliation & Compression §§ 23.502 and 23.503 w ill

be the date that is 60 days after publication of the final rules in the Federal Register.

See Notes

Compliance Date Extension for Certain Business Conduct Standards With

Counterparties. ISDA members have requested that the CFTC align the compliance

dates for the provisions of subpart H of part 23 that involve documentation 50 w ith the

trading relationship documentation rules in this release. ISDA members have

represented that industry-led efforts are underw ay to facilitate compliance w ith new

Dodd-Frank Act documentation requirements and an alignment of compliance dates

w ould allow the most eff icient transition to compliance w ith part 23’s documentation

requirements. The CFTC has decided to defer the compliance dates for certain

provisions of subpart H until January 1, 2013. Compliance w ith the follow ing provisions

w ill be deferred until January 1, 2013: §§ 23.402; 23.410(c); 23.430; 23.431(a)–(c);

23.432; 23.434(a)(2), (b), and (c); 23.440; and 23.450. Compliance w ith all other

provisions w ill continue to be required by October 15, 2012.

SD / MSP Capital and Margin for Non-Banks Capital Requirements of Sw ap Dealers and Major Sw ap Participants 76 FR 27802 N/A

The CFTC is proposing regulations that w ould implement the new statutory framew ork in the CEA, added by the Dodd-Frank Act.

These new provisions of the CEA require, among other things, the Commission to adopt capital requirements for certain sw ap

dealers (SDs) and major sw ap participants (MSPs). The proposed rules also provide for related financial condition reporting and

recordkeeping by SDs and MSPs. The CFTC further proposes to amend existing capital and financial reporting regulations for

futures commission merchants (FCMs) that also register as SDs or MSPs. The proposed regulations also include requirements for

supplemental FCM financial reporting to reflect section 724 of the Dodd-Frank Act. In order to align the comment periods for this

proposed rule and the CFTC 's earlier proposed rulemaking on margin requirements for uncleared sw aps, the comment period for

the proposed margin rulemaking is being extended elsew here in the Federal Register today, so that commenters w ill have the

opportunity to review the proposed capital and margin rules together before the expiration of the comment periods for either

proposed rule.

SD / MSP Capital and Margin for Non-Banks

Sw ap Transaction Compliance and Implementation Schedule: Trading Documentation and

Margining Requirements under Section 4s of the CEA 76 FR 58176 N/A

The CFTC is proposing regulations that w ould establish a schedule to phase in compliance w ith previously proposed requirements,

including the sw ap trading relationship documentation requirement under proposed 17 CFR 23.504, 76 FR 6715 (Feb. 8, 2011) and

the margin requirements for uncleared sw aps under proposed 17 CFR 23.150 through 23.158, 76 FR 23732 (Apr. 28, 2011). This

release is a continuation of those rulemakings. The proposed schedules w ould provide relief in the form of additional time for

compliance w ith these requirements. This relief is intended to facilitate the transition to the new regulatory regime established by

the Dodd-Frank Act in an orderly manner that does not unduly disrupt markets and transactions. The CFTC is requesting comment

on the proposed compliance schedules, Sec. Sec. 23.175 and 23.575, described in this release.

Trading Rule Certif ication - DCMs, DCOs, SEFs Provisions Common to Registered Entities 76 FR 44776 76 FR 45666 9/26/2011 9/26/2011 The compliance date and effective date are the same.

The CFTC adopted regulations to implement certain statutory provisions of the Dodd-Frank Act. The CFTC also is amended its

existing regulations governing the submission of new products, rules, and rule amendments. The final regulations establish the

procedural framew ork for the submission of new products, rules, and rule amendments by designated contract markets,

derivatives clearing organizations, sw ap execution facilities, and sw ap data repositories. In addition, the final regulations prohibit

event contracts involving certain excluded commodities, establish special submission procedures for certain rules proposed by

systemically important derivatives clearing organizations, and stay the certif ications and the approval review periods of novel

derivative products pending jurisdictional determinations.

Trading Registration - FBOTs Registration of Foreign Boards of Trade 76 FR 80674 2/21/2012 8/20/2012

Foreign Boards of Trade currently providing for direct access under Commission staff

no-action relief letters that w ant to continue to provide for direct access must submit

registration applications, determined in good faith by the applicant to be complete, not

later than August 20, 2012.

The Commodity Futures Trading Commission (Commission) issued final rules to implement new statutory provisions enacted by Title

VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish a registration system for foreign boards of

trade that w ish to provide their identif ied members or other participants located in the United States w ith direct access to their

electronic trading and order matching systems.

10/17/2012

DCMs must comply w ith the rules adopted in this release (except § 38.151(a)) by

October 17, 2012.

See Notes

With respect to existing members and market participants, DCMs must comply w ith §

38.151(a) w ithin 180 days follow ing the effective date. With respect to new members

and market participants, DCMs must comply w ith § 38.151(a) on the effective date.

Trading Designated Contract Markets Core Principles and Other Requirements for Designated Contract Markets 75 FR 80572 N/A

The CFTC is proposing new rules and amended guidance and acceptable practices to implement the new statutory provisions

enacted by Title VII of the Dodd-Frank Act. The proposed rules, guidance and acceptable practices, w hich apply to the designation

and operation of contract markets, implement the Dodd-Frank Act’s new statutory framew ork that, among other things, amends

Section 5 of the CEA concerning designation and operation of contract markets, and adds a new CEA Section 2(h)(8) to include

the listing, trading and execution of sw aps on designated contract markets. The CFTC requests comment on all aspects of the

proposed rules, guidance and acceptable practices.

Trading DCM / SEF Sw ap Availability to Trade

Process for a Designated Contract Market or Sw ap Execution Facility to Make a Sw ap

Available to Trade under Section 2(h)(8) of the Commodity Exchange Act 76 FR 77728 N/A

The CFTC is proposing regulations that establish a process for a designated contract market (``DCM'') or sw ap execution facility

(``SEF'') to make a sw ap ``available to trade'' as set forth in new Section 2(h)(8) of the CEA pursuant to Section 723 of the Dodd-

Frank Act. Only comments pertaining to the regulations proposed in this document w ill be considered as part of this further notice

of proposed rulemaking (``Notice'').

Trading Sw ap Transaction Compliance

Sw ap Transaction Compliance and Implementation Schedule: Clearing and Trade Execution

Requirements under Section 2(h) of the CEA 76 FR 58186 N/A

The CFTC is proposing regulations that w ould establish a schedule to phase in compliance w ith certain new statutory provisions

enacted under Title VII of the Dodd-Frank Act. These provisions include the clearing requirement under new section 2(h)(1)(A) of

the CEA, and the trade execution requirement under new section 2(h)(8)(A) of the CEA. The proposed schedules w ould provide

relief in the form of additional time for compliance w ith these requirements. This relief is intended to facilitate the transition to the

new regulatory regime established by the Dodd-Frank Act in an orderly manner that does not unduly disrupt markets and

transactions. The CFTC requests comment on the proposed compliance schedules for these clearing and trade execution

requirements.

Trading SEF Core Principles Core Principles and Other Requirements for Sw ap Execution Facilities 76 FR 1214 N/A

The CFTC is proposing new rules, and guidance and acceptable practices to implement the new statutory provisions enacted by

Title VII of the Dodd-Frank Act. The proposed rules, guidance, and acceptable practices, w hich apply to the registration and

operation of a new type of regulated entity named a sw ap execution facility, implement the new statutory framew ork that, among

other things, adds a new Section 5h to the CEA concerning the registration and operation of sw ap execution facilities, and new

Section 2(h)(8) to the CEA concerning the listing, trading and execution of sw aps on sw ap execution facilities. The CFTC requests

comment on all aspects of the proposed rules, guidance and acceptable practices.

77 FR 36611Trading DCM Core Principle Core Principles and Other Requirements for Designated Contract Markets

The CFTC is adopting new and amended rules, guidance, and acceptable practices to implement certain statutory provisions

enacted by Title VII of the Dodd-Frank Act. The final rules, guidance and acceptable practices, w hich apply to the designation and

operation of contract markets, implement the Dodd-Frank Act's new statutory framew ork that, among other things, amends section

5 of the CEA concerning designation and operation of contract markets, and adds a new CEA section 2(h)(8) to mandate the

listing, trading and execution of certain sw aps on designated contract markets ("DCMs").8/20/2012

The CFTC is adopting regulations to implement certain provisions of Title VII of the Dodd-Frank Act. Section 731 of the Dodd-Frank

Act added a new section 4s(i) to the CEA, w hich requires the CFTC to prescribe standards for sw ap dealers (SDs) and major

sw ap participants (MSPs) related to the timely and accurate confirmation, processing, netting, documentation, and valuation of

sw aps. These regulations set forth requirements for sw ap confirmation, portfolio reconciliation, portfolio compression, and sw ap

trading relationship documentation for SDs and MSPs.11/13/2012SD / MSP Internal Business Conduct - SD / MSP

Confirmation, Portfolio Reconciliation, Portfolio Compression, and Sw ap Trading Relationship

Documentation Requirements for Sw ap Dealers and Major Sw ap Participants 77 FR 55904

77 FR 30596SD / MSP Definition - SD / MSP / ECP

Further Definition of ‘‘Sw ap Dealer,’’ ‘‘Security-Based Sw ap Dealer,’’ ‘‘Major Sw ap Participant,’’

‘‘Major Security-Based Sw ap Participant’’ and ‘‘Eligible Contract Participant’’

The CFTC and SEC, in consultation w ith the Board of Governors of the Federal Reserve System, adopted new regulations and

interpretive guidance under the Commodity Exchange Act, and the Securities Exchange Act of 1934, to further define the terms

"sw ap dealer," "security-based sw ap dealer," "major sw ap participant," "major security-based sw ap participant," and "eligible

contract participant."7/23/201277 FR 39626

SD / MSP Internal Business Conduct - SD / MSP

Sw ap Dealer and Major Sw ap Participant Recordkeeping, Reporting, and Duties Rules; Futures

Commission Merchant and Introducing Broker Conflicts of Interest Rules; and Chief Compliance

Officer Rules for Sw ap Dealers, Major Sw ap Participants, and Futures Commission Merchants 77 FR 20128

SD / MSP External Business Conduct - SD / MSP

Business Conduct Standards for Sw ap Dealers and Major Sw ap Participants With

Counterparties 77 FR 9734

The CFTC adopted final rules to implement Section 4s(h) of the CEA pursuant to Section 731 of Title VII of the Dodd-Frank Act of

2010. These rules prescribe external business conduct standards for sw ap dealers and major sw ap participants.4/17/2012

6/4/2012

The CFTC adopted regulations to implement certain provisions of Title VII of the Dodd-Frank Act. These regulations set forth

reporting and recordkeeping requirements and daily trading records requirements for sw ap dealers (SDs) and major sw ap

participants (MSPs). These regulations also set forth certain duties imposed upon SDs and MSPs registered w ith the CFTC w ith

regard to: Risk management procedures; monitoring of trading to prevent violations of applicable position limits; diligent supervision;

business continuity and disaster recovery; disclosure and the ability of regulators to obtain general information; and antitrust

considerations. In addition, these regulations establish conflicts-of-interest requirements for SDs, MSPs, futures commission

merchants (FCMs), and introducing brokers (IBs) w ith regard to firew alls betw een research and trading and betw een clearing and

trading. Finally, these regulations also require each FCM, SD, and MSP to designate a chief compliance off icer, prescribe

qualif ications and duties of the chief compliance officer, and require that the chief compliance off icer prepare, certify, and furnish

to the CFTC an annual report containing an assessment of the registrant's compliance activities.

77 FR 48207

Further Definition of ``Sw ap,'' ``Security-Based Sw ap,'' and ``Security-Based Sw ap

Agreement''; Mixed Sw aps; Security-Based Sw ap Agreement RecordkeepingDefinition of Sw ap & Security-Based Sw apProducts

In accordance w ith section 712(a)(8), section 712(d)(1), sections 712(d)(2)(B) and (C), sections 721(b) and (c), and section

761(b) of the Dodd-Frank Act, the CFTC and the SEC (collectively, "Commissions"), in consultation w ith the Board of Governors of

the Federal Reserve System ("Board"), are jointly adopting new rules and interpretations under the CEA and the Securities

Exchange Act of 1934 ("Exchange Act") to further define the terms "sw ap," "security-based sw ap," and "security-based sw ap

agreement" (collectively, "Product Definitions"); regarding "mixed sw aps;" and governing books and records w ith respect to

"security-based sw ap agreements." The CFTC requests comment on its interpretation concerning forw ards w ith embedded

volumetric optionality, contained in Section II.B.2.(b)(ii) of this release.10/12/2012

17 CFR Parts 3, 32, and 33 Commodity Options. The CFTC is issuing a final rule to repeal and replace the CFTC's current

regulations concerning commodity options. The CFTC is also issuing an interim final rule (w ith a request for additional comment)

that incorporates a trade option exemption into the final rules for commodity options (added Sec. 32.3). For a transaction to be

w ithin the trade option exemption, the option, the offeror (seller), and the offeree (buyer), as applicable, must satisfy certain

eligibility requirements, including that the option, if exercised, be physically settled, that the option seller meet certain eligibility

requirements, and that the option buyer be a commercial user of the commodity underlying the option, and certain other regulatory

conditions. Only comments pertaining to the interim final rule w ill be considered in any further action related to these rules.6/26/2012Products Commodity Options Commodity Options 77 FR 25320

76 FR 69334Derivatives Clearing Organization General Provisions and Core PrinciplesPortfolio Margining ProceduresProducts

The CFTC adopted final regulations to implement certain provisions of Title VII and Title VIII of the Dodd-Frank Act governing

derivatives clearing organization (DCO) activities. The regulations establish the regulatory standards for compliance w ith DCO

Core Principles A (Compliance), B (Financial Resources), C (Participant and Product Eligibility), D (Risk Management), E (Settlement

Procedures), F (Treatment of Funds), G (Default Rules and Procedures), H (Rule Enforcement), I (System Safeguards), J

(Reporting), K (Recordkeeping), L (Public Information), M (Information Sharing), N (Antitrust Considerations), and R (Legal Risk) set

forth in Section 5b of the Commodity Exchange Act. The CFTC also updated and added related definitions; adopted implementing

rules for DCO chief compliance off icers (CCOs); revised procedures for DCO applications including the required use of a new

Form DCO; adopted procedural rules applicable to the transfer of a DCO registration; and added requirements for approval of DCO

rules establishing a portfolio margining program for customer accounts carried by a futures commission merchant that is also

registered as a securities broker-dealer. In addition, the CFTC is adopted certain technical amendments to parts 21 and 39, and adopted certain delegation provisions under part 140.1/9/2012

76 FR 71626Position Limits Position Limits - Futures and Sw aps

Position Limits for Futures and Sw aps, including Bona Fide Hedging Definition & Aggregate

Limits

The CFTC adopted regulations establishing position limits for 28 exempt and agricultural commodity futures and options contracts

and the physical commodity sw aps that are economically equivalent to such contracts.1/17/2012

3/31/2012

The CFTC and the CFTC (collectively, Commissions) adopted rules under the CEA and the IAA of 1940 to implement provisions of

Title IV of the Dodd-Frank Act. The new SEC rule requires investment advisers registered w ith the SEC that advise one or more

private funds and have at least $150 million in private fund assets under management to file Form PF w ith the SEC. The new CFTC

rule requires commodity pool operators (CPOs) and commodity trading advisors (CTAs) registered w ith the CFTC to satisfy certain

CFTC filing requirements w ith respect to private funds, should the CFTC adopt such requirements, by filing Form PF w ith the SEC,

but only if those CPOs and CTAs are also registered w ith the SEC as investment advisers and are required to file Form PF under

the Advisers Act. The new CFTC rule also allow s such CPOs and CTAs to satisfy certain CFTC filing requirements w ith respect to

commodity pools that are not private funds, should the CFTC adopt such requirements, by filing Form PF w ith the SEC. Advisers

must file Form PF electronically, on a confidential basis.Other Reporting on Form PF

Reporting by Investment Advisers to Private Funds and Certain Commodity Pool Operators and

Commodity Trading Advisors on Form PF 76 FR 71128

4/24/2012

The CFTC adopted amendments to its existing part 4 regulations and promulgated one new regulation regarding Commodity Pool

Operators (CPOs) and Commodity Trading Advisors (CTAs). The CFTC also adopted new data collections for CPOs and CTAs that

are consistent w ith a data collection required under the Dodd-Frank Act for entities registered w ith both the CFTC and the SEC.

The adopted amendments rescind the exemption from registration; rescind relief from the certif ication requirement for annual

reports provided to operators of certain pools offered only to qualif ied eligible persons (QEPs; modify the criteria for claiming

relief); and require the annual filing of notices claiming exemptive relief under several sections of the CFTC's regulations. Finally,

the adopted amendments include new risk disclosure requirements for CPOs and CTAs regarding sw ap transactions. Please also

see 77 FR 17328 (correction).Other CPO / CTA Amendments

Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance

Obligations 77 FR 11252

9/20/2011

The CFTC amended its rules to implement new statutory provisions enacted by titles VII and X of the Dodd-Frank Act. Section 1093

of the Dodd-Frank Act provides for certain amendments to title V of the Gramm-Leach-Bliley Act (the "GLB Act"). The GLB Act

sets forth certain protections for the privacy of consumer financial information and w as amended by the Dodd-Frank Act to affirm

the CFTC’s jurisdiction in this area. The amendments broaden the scope of part 160 to cover tw o new entities created by title VII of

the Dodd-Frank Act: sw ap dealers and major sw ap participants.Other Privacy of Consumer Financial Information Privacy of Consumer Financial Information; Conforming Amendments under Dodd-Frank Act 76 FR 43874

9/20/2011

The CFTC adopted regulations to implement new statutory provisions enacted by Title X of the Dodd-Frank Act. These regulations

apply to futures commission merchants, retail foreign exchange dealers, commodity trading advisors, commodity pool operators,

introducing brokers, sw ap dealers and major sw ap participants. The Dodd-Frank Act provides the CFTC w ith authority to

implement regulations under sections 624 and 628 of the Fair Credit Reporting Act. The regulations implementing section 624 of the

Fair Credit Reporting Act require CFTC-regulated entities to provide consumers w ith the opportunity to prohibit aff iliates from using

certain information to make marketing solicitations to consumers. The regulations implementing section 628 of the FCRA require

CFTC-regulated entities that possess or maintain consumer report information in connection w ith their business activities to

develop and implement w ritten policies and procedures for the proper disposal of such information.Other Business Affiliate Marketing and Disposal of Consumer Information 76 FR 43879

8/13/2012

The CFTC is adopting rules to further implement the CEA w ith respect to the new statutory framew ork regarding sw ap data

recordkeeping and reporting established by the Dodd-Frank Act. The Dodd-Frank Act, w hich amended the CEA, directs that rules

adopted by the CFTC shall provide for the reporting of data relating to sw aps entered into before the date of enactment of the

Dodd-Frank Act, the terms of w hich have not expired as of the date of enactment of the Dodd-Frank Act (``pre-enactment

sw aps'') and data relating to sw aps entered into on or after the date of enactment of the Dodd-Frank Act and prior to the

compliance date specif ied in the Commission's f inal sw ap data reporting rules (``transition sw aps''). These final rules establish

sw ap data recordkeeping and reporting requirements for pre-enactment sw aps and transition sw aps.Data Sw ap Data - Pre-Enactment Sw ap Data Recordkeeping and Reporting Requirements: Pre-Enactment and Transition Sw aps 77 FR 35200

Clearing DCO Core Principles Derivatives Clearing Organization General Provisions and Core Principles 76 FR 69334 1/9/2012

Final regulations to implement certain provisions of Title VII and Title VIII of the Dodd-Frank Act governing derivatives clearing

organization (DCO) activities. Regulations establish the regulatory standards for compliance w ith DCO Core Principles A

(Compliance), B (Financial Resources), C (Participant and Product Eligibility), D (Risk Management), E (Settlement Procedures), F

(Treatment of Funds), G (Default Rules and Procedures), H (Rule Enforcement), I (System Safeguards), J (Reporting), K

(Recordkeeping), L (Public Information), M (Information Sharing), N (Antitrust Considerations), and R (Legal Risk) set forth in

Section 5b of the CEA. CFTC also updated and added related definitions; adopted implementing rules for DCO chief compliance

off icers (CCOs); revised procedures for DCO applications including the required use of a new Form DCO; adopted procedural

rules applicable to the transfer of a DCO registration; and added requirements for approval of DCO rules establishing a portfolio

margining program for customer accounts carried by a FCM that is also registered as a securities broker-dealer. In addition, CFTC

adopted certain technical amendments to parts 21 and 39, and adopted certain delegation provisions under part 140.

Clearing Risk Management - DCOs

Customer Clearing Documentation, Timing of Acceptance for Clearing, and Clearing Member

Risk Management 77 FR 21278 10/1/2012

The CFTC adopted rules to implement new statutory provisions enacted by Title VII of the Dodd-Frank Act. These rules address:

documentation betw een a customer and a futures commission merchant that clears on behalf of the customer; timing of

acceptance or rejection of trades for clearing by derivatives clearing organizations and clearing members; and risk management

procedures of futures commission merchants, sw ap dealers, and major sw ap participants that are clearing members.

Data Physical Sw aps - Large Trader Reporting Large Trader Reporting for Physical Commodity Sw aps 76 FR 43851 9/20/2011

The CFTC adopted reporting regulations that require physical commodity sw ap and sw aption reports. The new regulations require

routine position reports from clearing organizations, clearing members and sw ap dealers and also apply to reportable sw ap trader

positions.

Division of Market Oversight Conditional No-Action Relief for Less than Fully Compliant Reporting: issued March 20, 2012; provides

relief from fully compliant reporting until July 2, 2012.10/31/201176 FR 54538Sw ap Data Repositories: Registration Standards, Duties and Core PrinciplesSDR Core PrinciplesData

Real-Time Reporting for Sw apsSw aps Real-Time ReportingData

CFTC adopted regulations to implement certain statutory provisions enacted by the Dodd-Frank Act. Specifically, the CFTC adopted

rules to implement a framew ork for the real-time public reporting of sw ap transaction and pricing data for all sw ap transactions.3/9/201277 FR 1182

The CFTC adopted rules to implement the CEA relating to sw ap data recordkeeping and reporting requirements. These sections of

the CEA w ere added by the Dodd-Frank Act. The rules adopted apply to sw ap data recordkeeping and reporting requirements for

sw ap data repositories, derivatives clearing organizations, designated contract markets, sw ap execution facilities, sw ap dealers,

major sw ap participants, and sw ap counterparties w ho are neither sw ap dealers nor major sw ap participants.Data Sw ap Data - Recordkeeping Sw ap Data Recordkeeping and Reporting 77 FR 2136 3/13/2012