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CFTC RIN: 3038-AC82 Publication ID: Fall 2010 
Title: Account Class 
Abstract: The Commodity Futures Trading Commission (the Commission) proposes amending its regulations (17 CFR chapter 1, hereinafter, the Regulations) to create a sixth and separate account class (as such term is defined in Regulation 190.01(a) (17 CFR 190.01(a)), applicable only to the bankruptcy of a commodity broker that is a futures commission merchant (FCM), for positions in cleared over-the-counter (OTC) derivatives (and money, securities, and/or other property margining, guaranteeing, and securing such positions). In general, the concept of "account class" governs the manner in which the trustee calculates the net equity (i.e., claims against the estate) and the allowed net equity (i.e., pro rata share of the estate) for each customer of a commodity broker in bankruptcy. The Commission further proposes amending the Regulations to codify the appropriate allocation, in a bankruptcy of any commodity broker, of positions in commodity contracts of one account class (and the money, securities, and/or other property margining, guaranteeing, or securing such positions) that are commingled with positions in commodity contracts of the futures account class (and the money, securities, and/or other property margining, guaranteeing, or securing such positions), pursuant to an order issued by the Commission. 
Agency: Commodity Futures Trading Commission(CFTC)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 17 CFR 190   
Legal Authority: 7 USC 1a and 2    7 USC 4a and 6c    7 USC 6d and 6g    7 USC 7a and 12    7 USC 19 and 24    11 USC 362 and 546    11 USC 548 and 556    11 USC 761 to 766   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/13/2009  74 FR 40794   
NPRM Comment Period End  09/14/2009    
Final Action  04/06/2010  75 FR 17297   
Final Action Effective  05/06/2010    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Robert B. Wasserman
Chief Counsel, Division of Clearing and Risk
Commodity Futures Trading Commission
Three Lafayette Centre, 1155 21st Street, NW.,
Washington, DC 20581
Phone:202 418-5092
Email: rwasserman@cftc.gov