Final Rule: Privacy of Consumer Financial Information; Conforming Amendments Under Dodd-Frank Act
Federal Register Publication Date: 07/22/2011
Summary: The CFTC amended its rules implementing new statutory provisions enacted by titles VII and X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ‘‘Dodd-Frank Act’’). Section 1093 of the Dodd-Frank Act provides for certain amendments to title V of the Gramm-Leach-Bliley Act (the ‘‘GLB Act’’). The GLB Act sets forth certain protections for the privacy of consumer financial information and was amended by the Dodd-Frank Act to affirm the CFTC’s jurisdiction in this area. The CFTC’s amendments to its regulations, inter alia, broaden the scope of Part 160 to cover two new entities created by Title VII of the Dodd-Frank Act: swap dealers and major swap participants.