The Commodity Futures Trading Commission recently approved two actions as part of its ongoing regulatory reform program. First, the CFTC approved a new contract listing procedure that will permit futures exchanges to list new contracts for trading (and amend those contracts pursuant to exchange certification) without prior CFTC approval. Second, the CFTC will be seeking public comment on a proposal to revise Commission regulation 1.41 to allow futures exchanges to make new rules and rule amendments effective without prior CFTC approval. The final rules for the new listing procedure and the proposal to revise regulation 1.41 are expected to be published in the Federal Register shortly. (CFTC Press Release, 11/17/99)
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Howard Schneider at (212) 940-8787 or e-mail hschneider@rosenman.com, Fred M. Santo at (212) 940- 8720 or e-mail fmsanto@rosenman.com, William Natbony at (212) 940-8930 or e-mail wnatbony@rosenman.com, or Christine Pham at (212) 940-8811 or e-mail cpham@rosenman.com