View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML
CFTC RIN: 3038-AB45 Publication ID: Fall 1999 
Title: ●Registration Exemptions Pertaining to the Offer and Sale of Foreign Futures and Foreign Options Contracts to Customers Located in the United States 
Abstract: The Commission proposes to codify some of the interpretations and positions that its staff has taken regarding registration requirements under Part 30 of the Commission's rules, which governs, generally, the solicitation and sale of foreign futures and foreign options contracts to customers located in the United States. The Commission proposes to modify Rule 30.4(a) by clarifying that foreign futures and options brokers, including those with U.S. bank branches, are not required to register as futures commission merchants (FCMs) pursuant to Rule 30.4, or seek Rule 30.10 relief, if they fall generally into the following categories: (1) those that carry customer omnibus accounts for U.S. FCMs; (2) those that carry U.S. affiliate accounts which are proprietary to the foreign futures and options broker; and (3) those that carry U.S. accounts which are proprietary to a U.S. FCM. In addition, proposed Rule 30.10(a) will specify representations that must be made by a foreign futures and options broker that has U.S. bank branches in order to obtain a Rule 30.10 comparability exemption or to come within the registration exception of Rule 30.4. 
Agency: Commodity Futures Trading Commission(CFTC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 17 CFR 30.1    17 CFR 30.4    17 CFR 30.10   
Legal Authority: 7 USC 2(a)(1)(A)    7 USC 4(b)    7 USC 4c   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/26/1999  64 FR 46613   
NPRM Comment Period End  10/25/1999    
Final Action  02/00/2000    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No 
Included in the Regulatory Plan: No 
Agency Contact:
Susan A. Elliott
Attorney Advisor, Division of Clearing and Intermediary Oversight
Commodity Futures Trading Commission
Three Lafayette Centre, 1155 21st Street NW.,
Washington, DC 20581
Phone:202 418-5464
Fax:202 418-5528
Email: selliott@cftc.gov