17 CFR 37.5 - Information relating to swap execution facility compliance.

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There are 2 Updates appearing in the Federal Register for 17 CFR Part 37. View below or at eCFR (GPOAccess)
§ 37.5 Information relating to swap execution facility compliance.

(a)Request for information. Upon the Commission's request, a swap execution facility shall file with the Commission information related to its business as a swap execution facility in the form and manner and within the time period as the Commission specifies in its request.

(b)Demonstration of compliance. Upon the Commission's request, a swap execution facility shall file with the Commission a written demonstration, containing supporting data, information, and documents that it is in compliance with one or more core principles or with its other obligations under the Act or the Commission's regulations as the Commission specifies in its request. The swap execution facility shall file such written demonstration in the form and manner and within the time period as the Commission specifies in its request.

(c)Equity interest transfer -

(1)Equity interest transfer notification. A swap execution facility shall file with the Commission a notification of each transaction that the swap execution facility enters into involving the transfer of fifty percent or more of the equity interest in the swap execution facility. The Commission may, upon receiving such notification, request supporting documentation of the transaction.

(2)Timing of notification. The equity interest transfer notice described in paragraph (c)(1) of this section shall be filed electronically with the Secretary of the Commission at its Washington, DC headquarters at submissions@cftc.gov and the Division of Market Oversight at DMOSubmissions@cftc.gov, at the earliest possible time but in no event later than the open of business ten business days following the date upon which the swap execution facility enters into a firm obligation to transfer the equity interest.

(3)Rule filing. Notwithstanding the foregoing, if any aspect of an equity interest transfer described in paragraph (c)(1) of this section requires a swap execution facility to file a rule as defined in part 40 of this chapter, then the swap execution facility shall comply with the requirements of section 5c(c) of the Act and part 40 of this chapter, and all other applicable Commission regulations.

(4)Certification. Upon a transfer of an equity interest of fifty percent or more in a swap execution facility, the swap execution facility shall file electronically with the Secretary of the Commission at its Washington, DC headquarters at submissions@cftc.gov and the Division of Market Oversight at DMOSubmissions@cftc.gov, a certification that the swap execution facility meets all of the requirements of section 5h of the Act and the Commission regulations adopted thereunder, no later than two business days following the date on which the equity interest of fifty percent or more was acquired.

(d)Delegation of authority. The Commission hereby delegates, until it orders otherwise, the authority set forth in this section to the Director of the Division of Market Oversight or such other employee or employees as the Director may designate from time to time. The Director may submit to the Commission for its consideration any matter that has been delegated in this paragraph. Nothing in this paragraph prohibits the Commission, at its election, from exercising the authority delegated in this paragraph.

Title 17 published on 2015-12-04

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 17 CFR Part 37 after this date.

  • 2016-12-30; vol. 81 # 251 - Friday, December 30, 2016
    1. 81 FR 96704 - Position Limits for Derivatives
      GPO FDSys XML | Text
      COMMODITY FUTURES TRADING COMMISSION, 37, 17 CFR Parts 1, 15, 17, 19, 38, 140, 150 and 151
      Reproposal.
      Comments must be received on or before February 28, 2017.
      17 CFR Part 1

Title 17 published on 2015-12-04.

The following are only the Rules published in the Federal Register after the published date of Title 17.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2016-09-19; vol. 81 # 181 - Monday, September 19, 2016
    1. 81 FR 64272 - System Safeguards Testing Requirements
      GPO FDSys: XML | Text
      COMMODITY FUTURES TRADING COMMISSION
      Final rule.
      Effective date: This rule is effective September 19, 2016. Compliance dates: (1) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with the vulnerability testing requirements of this rule within 180 calendar days after the effective date. (2) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with the penetration testing requirements of this rule within one year after the effective date. Such compliance must include having conducted and completed penetration testing that complies with this rule within one year after the effective date. In the case of covered designated contract markets and swap data repositories, such compliance must include penetration testing conducted and completed by an independent contractor as required by this rule. (3) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with the controls testing requirements of this rule within one year after the effective date. Covered designated contract markets and swap data repositories must have testing of key controls by an independent contractor as required by this rule completed within three years after the effective date. (4) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with the security incident response plan testing requirements of this rule within 180 calendar days after the effective date. Such compliance must include having created and completed testing of a security incident response plan within 180 days after the effective date. (5) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with the enterprise technology risk assessment requirements of this rule within one year after the effective date. Such compliance must include having completed an enterprise technology risk assessment that complies with this rule within one year after the effective date. (6) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with the requirements of this rule for updating their business continuity-disaster recovery plans and emergency procedures within one year after the effective date. Such compliance must include having completed an update of such plans and procedures within one year after the effective date. (7) Designated contract markets must be in full compliance with the requirements of this rule respecting required production of annual total trading volume within 30 calendar days of the effective date. (8) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with the system safeguards-related books and records requirements of this rule, which are part of such entities' current books and records requirements under current Commission regulations and statutory core principles, as of the effective date. (9) Designated contract markets, swap execution facilities, and swap data repositories must be in full compliance with all other provisions of these final rules within one year after the effective date.
      17 CFR Parts 37, 38, and 49