Agricultural Commodity

CFTC Approval of Final Rules under Dodd-Frank Act

On July 7, the CFTC approved five final rules under the Dodd-Frank Act at an open meeting. The CFTC (i) approved the definition of “Agricultural Commodity” for purposes of Commodity Exchange Act; (ii) adopted regulations, pursuant to Title X of the Dodd-Frank Act, requiring CFTC-regulated entities to provide consumers with an opportunity to prohibit affiliates from using certain information to make marketing solicitations, and to develop policies and procedures for the proper disposal of consumer report information; (iii) expanded the scope of Part 160 of its regulations, which requires entities to provide certain privacy protections for consumer financial information, to apply to swap dealers and major swap participants; and (iv) adopted reporting regulations requiring clearing organizations, clearing members and swap dealers to submit routine position reports for physical commodity swaps and swaptions. CFTC Rule on Agricultural Commodity Definition. CFTC Rule on Consumer Information under FCRA. CFTC Rule Expanding Scope of Part 160. CFTC Rule on Physical Commodity Swaps Reporting.