Final Rule: Removing Any Reference to or Reliance on Credit Ratings in Commission Regulations; Proposing Alternatives to the Use of Credit Ratings
Federal Register Publication Date: 07/25/2011
Summary: The CFTC adopted a final rule that amends existing CFTC regulations in order to implement new statutory provisions enacted by Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rule amendments set forth herein apply to futures commission merchants, derivatives clearing organizations, and commodity pool operators. The rule amendments implement the new statutory framework that requires agencies to replace any reference to or reliance on credit ratings in their regulations with an appropriate alternative standard.