CFTC Alert! CFTC proposes (OPEN for comment) to continue collecting information required under both the Final Rule and the Aggregation Rule to establish limits on speculative positions, to prevent the harms caused by speculation
Source: https://public-inspection.federalregister.gov/2023-06308.pdf
https://public-inspection.federalregister.gov/2023-06308.pdf
Final Rule
- In 2021, the Commission issued a final rule on position limits that implemented CEA section 4a and established the Commission’s new position limits regime found in part 150 of the Commission’s Regulations (“Final Rule”).
The Final Rule, among other things, included:
- New and amended Federal spot-month limits for the 25 core referenced futures contracts
- Amended Federal non-spot limits for the nine legacy agricultural contracts subject to existing Federal position limits
- Amended rules governing exchange-set limit levels and grants of exemptions therefrom
- An amended process for requesting certain spread exemptions and non-enumerated bona fide hedge recognitions for purposes of Federal position limits directly from the Commission
- A new streamlined process for recognizing non-enumerated bona fide hedge positions from Federal limit requirements
- Amendments to part 19 of the Commission’s Regulations and related provisions that eliminated certain reporting obligations that require traders to submit a Form 204 and Parts I and II of Form 304.
Aggregation Rule
In 2016 the Commission issued a final rule amending Commission Regulation 150.4, which sets forth requirements regarding the aggregation of positions subject to federal position limits (the “Aggregation Rule”).
- Regulation 150.4 includes standards for the aggregation of accounts and procedures for seeking an exemption from position aggregation requirements under the Commission’s federal position limits.
Do you want to comment?
We have 30 days from today?
ADDRESSES: Written comments and recommendations for the proposed information collection should be submitted within 30 days of this notice’s publication to OIRA, at https://www.reginfo.gov/public/do/PRAMain.
- Please find this particular information collection by selecting “Currently under 30-day Review – Open for Public Comments” or by using the website’s search function.
- Comments can be entered electronically by clicking on the “comment” button next to the information collection on the “OIRA Information Collections Under Review” page, or the “View ICR – Agency Submission” page.
- A copy of the supporting statement for the collection of information discussed herein may be obtained by visiting https://www.reginfo.gov/public/do/PRAMain.
- You can also submit to the Commodity Futures Trading Commission (the “Commission” or “CFTC”) by clicking on the “Submit Comment” box next to the descriptive entry for OMB Control No. 3038- 0013, at https://comments.cftc.gov/FederalRegister/PublicInfo.aspx.
Or by either of the following methods:
- Mail: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581.
About your comments:
- All comments must be submitted in English, or if not, accompanied by an English translation.
- Comments submitted to the Commission should include only information that you wish to make available publicly.
- If you wish the Commission to consider information that you believe is exempt from disclosure under the Freedom of Information Act, a petition for confidential treatment of the exempt information may be submitted according to the procedures established in § 145.9 of the Commission’s regulations.
- The Commission reserves the right, but shall have no obligation, to review, pre-screen, filter, redact, refuse or remove any or all of your submission from https://www.cftc.gov that it may deem to be inappropriate for publication, such as obscene language.
- All submissions that have been redacted or removed that contain comments on the merits of the ICR will be retained in the public comment file and will be considered as required under the Administrative Procedure Act and other applicable laws, and may be accessible under the Freedom of Information Act.
Burden statement:
TLDRS
CFTC proposes (OPEN for comment) to continue collecting information required under both the Final Rule and the Aggregation Rule to establish limits on speculative positions, to prevent the harms caused by excessive speculation.
