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CFTC RIN: 3038-AF38 Publication ID: Fall 2023 
Title: ●Revisions to Business Conduct and Swap Documentation Requirements for Swap Dealers and Major Swap Participants 

Staff is considering recommending the Commission issue a notice of proposed rulemaking (NPRM) to propose certain amendments to the Commission’s business conduct and documentation requirements applicable to swap dealers and major swap participants.  The NPRM would propose exceptions to compliance with certain business conduct and documentation requirements when executing swaps that are: (1) intended by the parties to be cleared contemporaneously with execution; or (2) subject to prime broker arrangements that meet certain qualifying conditions.  The proposed amendments would also make certain other changes addressing long-standing issues with the Commission’s business conduct standards applicable to swap dealers and major swap participants.  The proposed amendments, if adopted, would supersede certain no-action positions issued by the Commission’s Market Participants Division.

Agency: Commodity Futures Trading Commission(CFTC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 17 CFR 23   
Legal Authority: 7 U.S.C. 64s(j)    7 U.S.C. 6s(h)   
Legal Deadline:  None
Action Date FR Cite
NPRM  11/00/2023 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Frank Fisanich
Chief Counsel, Market Participants Division
Commodity Futures Trading Commission
Three Lafayette Centre, 1155 21st Street NW,
Washington, DC 20581
Phone:202 418-5949