Commodity Futures Trading Commission (CFTC) has proposed new
exchange governance and conflicts of interest rule changes that
many believed could be a source of ire to US exchanges.
CFTC began taking comment letters last week with a focus on
acceptable practices as cited in Commodity Exchange Act, which
requires that "exchanges minimise conflicts of interest in
their decision-making processes."
The commission's proposed acceptable practices would require
each designated contract market's board of directors to be
composed of at least 50% non-member public directors. They
would also require exchanges to establish a board-level
regulatory oversight committee (ROC), composed only of
non-member public directors, to oversee regulatory
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.