CFTC Extends Public Comment Period on Concept Release Regarding Review of Exemptions for Swap Dealers

The Commodity Futures Trading Commission (CFTC) is extending the public comment period on the concept release regarding review of exemptions for swap dealers.

The comment period for this request is set to expire on May 26, 2009, but based on several public requests for an extension, the Commission is extending the comment period for an additional 21 days. As a result, comments on this concept release must now be received on or before June 16, 2009.

Specifically, the concept release arose from Recommendation Five of the September 2008 “Staff Report on Commodity Swap Dealers and Index Traders with Commission Recommendations.” The concept release reviews the underlying statutory and regulatory background, as well as the regulatory history and relevant marketplace developments which led to Recommendation Five. It then poses a number of questions designed to help inform the Commission’s decision as to: (1) whether to proceed with the recommendation to eliminate the bona fide hedge exemption for swap dealers and replace it with a conditional limited risk management exemption; and (2) if so, what form the new limited risk management exemptive rules should take and how they might be implemented most effectively.

The extension notice will be published shortly in the Federal Register. Comments may be submitted electronically to secretary@cftc.gov. All comments received will be posted on the Commission’s website.

To view the full press release, please visit:

http://cftc.gov/newsroom/generalpressreleases/2009/pr5657-09.html

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