Newsflash: CFTC Proposes to Fix Problematic Oral Communication Recordkeeping Rule

November 20, 2014

The U.S. Commodity Futures Trading Commission (CFTC) held an open meeting in early November 2014 at which it discussed and proposed, among other agenda items, amendments to rules regarding recordkeeping related to commodity interest and related cash and forward transactions (Covered Transactions). The Proposed Rule would amend the CFTC’s existing recordkeeping requirements under Regulation 1.35(a), thereby exempting commodity trading advisors (CTAs) from needing to keep and maintain records of oral communications related to Covered Transactions.

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