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CFTC RIN: 3038-AE30 Publication ID: Fall 2016 
Title: Amendments to Existing System Safeguards Testing Requirements for Designated Contract Markets, Swap Execution Facilities, and Swap Data Repositories 
Abstract:

The Commission has issued a Final Rule amending the system safeguards testing requirements in part 38 for DCMs, part 37 for SEFs, and part 49 for SDRs.  The amended rules require DCMs, SEFs, and SDRs to conduct five major types of system safeguards testing and assessment, as often as indicated by adequate risk analysis.  The rules also require covered DCMs (as defined) and SDRs to conduct such testing at least at specified minimum intervals, and to have certain tests performed by independent contractors.  The amended rules further specify the minimum scope required for such testing, require certification of adequate testing frequency, and clarify system safeguards-related document production requirements in accordance with existing document production regulations.

 
Agency: Commodity Futures Trading Commission(CFTC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 17 CFR 37    17 CFR 38    17 CFR 49   
Legal Authority: 7 U.S.C. 1a, 7 U.S.C. 2, 7 U.S.C. 6, 7 U.S.C. 6a, 7 U.S.C. 6c, 7 U.S.C. 6d, 7 U.S.C. 6f    7 U.S.C. 6g, 7 U.S.C. 6i, 7 U.S.C. 6j, 7 U.S.C. 6k, 7 U.S.C. 6l, 7 U.S.C. 6m, 7 U.S.C. 6n    7 U.S.C. 7, 7 U.S.C. 7a-s, 7 U.S.C. 7b, 7 U.S.C. 7b-1,    7 U.S.C. 7b-3, 7 U.S.C. 8, 7 U.S.C. 9, 7 U.S.C. 15, and 7 U.S.C. 21    as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act    Pub. L. 111-203, 124 Stat. 1376 (for DCMs)    7 U.S.C. 1a and 2, 7 U.S.C. 5, 7 U.S.C. 6, 7 U.S.C. 6c, 7 U.S.C. 7, 7 U.S.C. 7a-2, 7 U.S.C. 7b-3, and 7 U.S.C. 12a    as amended by titles VII and VIII of the Dodd Frank Wall Street Reform and Consumer Protection Act    Pub. L. 111-203, 124 Stat. 1376 (for SEFs)    and 7 U.S.C. 12a and 24a    as amended by title VII of the Wall Street Reform and Consumer Protection Act    Pub. L. No. 111-203, 124 Stat. 1376 (2010) (for SDRs)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
ANPRM  12/23/2015  80 FR 80140   
NPRM  12/23/2015  80 FR 80140   
ANPRM Comment Period End  02/22/2016 
NPRM Comment Period End  02/22/2016 
Final Action  09/19/2016  81 FR 64272   
Final Action Effective  09/19/2016 
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:
David Taylor
Associate Director, Division of Market Oversight
Commodity Futures Trading Commission
Three Lafayette Centre, 1155 21st Street NW.,
Washington, DC 20581
Phone:202 418-5488
Email: dtaylor@cftc.gov