CFTC Set to Review Two Proposed Rules

Requirements for Dodd-Frank rules to be reviewed at open meeting

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The Commodity Futures Trading Commission plans a public review next week of two proposed rules as it implements the requirements of the Dodd-Frank law's timetable.

The CFTC's public meeting is set for at 9:30 a.m., Thursday, Sept. 8 in Washington, D.C.

The first of the proposals on the agenda outlines how to phase in documentation and margining requirements once the rules are completed. The second sets forth a timeline for rules on mandatory clearing and trading implementation.

As part of its Dodd-Frank work, the CFTC has finalized 11 rules. Still, the most significant and controversial rules remain to be done. The position limits plan is scheduled to be voted on Sept. 22, according to a Reuters report. Reuters also reported that the two Republican members of the commission have expressed concern that the CFTC is moving too fast.

CFTC Commissioners Scott O'Malia and Jill Sommers have argued for an outline for the timing of rule finalization and implementation prior to rulemaking.

Of the rules to be reviewed on Thursday, CFTC Chairman Gary Gensler said, "These proposed rules are designed to smooth the transition from an unregulated market structure to a safer market structure."

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