On 22 October 2024, the U.S. Commodity Futures Trading Commission (US CFTC) announced that it will conduct an open meeting on 29 October 2024, from 10:00 a.m. to 4:30 p.m. EDT at its Washington, D.C. headquarters, located at Three Lafayette Centre, 1155 21st Street N.W. This meeting will provide an opportunity for the public to attend in person or virtually through a live stream on the US CFTC website or its YouTube channel. During the session, US CFTC will discuss important regulatory matters, including final rules related to operational resilience for futures commission merchants, swap dealers, and major swap participants. The agenda also includes the investment of customer funds by futures commission merchants and derivatives clearing organisations, the development of recovery and orderly wind-down plans for derivatives clearing organisations, and updates on the Commission’s Fall 2024 Unified Agenda. The meeting will cover compensation structures for US CFTC executives and supervisors. The US CFTC has provided virtual access instructions and ensured that materials presented during the meeting will be available to the public online.
Announced by US CFTC Chairman Rostin Behnam, the meeting will be open to the public, offering various options for participation. Members of the public can attend the meeting in person, listen by phone, or view the proceedings via a live stream on the US CFTC’s official website, and the meeting will be streamed on the US CFTC’s YouTube channel for broader accessibility. The meeting will cover regulatory topics of importance to the futures and swaps markets.
The US CFTC will consider a number of issues during the meeting, including the Final Rule on Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants. This rule ensures that these entities have systems in place to withstand and recover from operational disruptions. The US Final Rule on the Investment of Customer Funds by US Futures Commission Merchants and Derivatives Clearing Organisations will be reviewed, aiming to safeguard customer assets by setting clear standards for how funds can be invested.
Another item on the agenda is the US Final Rule on Derivatives Clearing Organisations (DCOs) Recovery and Orderly Wind-down Plans. This rule will outline the necessary plans for DCOs to manage severe financial distress, ensuring that functions continue and that resolution planning is effective. The US CFTC will also review its Fall 2024 Unified Agenda Submission, which will detail its regulatory priorities and planned actions for the upcoming year. Furthermore, the Commission will discuss US CFTC Executive and Supervisor Compensation Structures, focusing on how the agency compensates its senior leaders and supervisors, an essential topic for maintaining talent and leadership within the organisation.
The agenda for the meeting, along with detailed instructions for virtual participation, will be made available on the Commission’s website ahead of the meeting. Call-in participants who wish to listen by phone will need to provide their first and last name, along with their affiliation if applicable. Materials presented during the meeting, if any, will also be accessible online, ensuring transparency and public access to key regulatory information.
In the event of any changes to the time, date, or venue for the meeting, the US CFTC will post updated information on its website. Those requiring special accommodations to attend the virtual meeting due to disabilities are encouraged to contact the US CFTC by emailing press@cftc.gov to make the necessary arrangements.
This open meeting represents an important opportunity for the public and stakeholders to engage with the US CFTC on critical regulatory decisions that impact futures commission merchants, swap dealers, derivatives clearing organisations, and the broader market. The decisions made during this session will contribute to shaping the future regulatory landscape for the financial markets under the US CFTC’s jurisdiction.
For additional information, members of the public can contact Christopher Kirkpatrick, the Secretary of US CFTC at 202-418-5964.
(Source: https://www.cftc.gov/PressRoom/PressReleases/8999-24, https://www.cftc.gov/media/11511/FederalRegister102224/download)
