Conflicts and Affiliations
The Commodity Futures Trading Commission ("CFTC" or "Commission") is proposing new rules and amendments to its existing regulations for futures commission merchants ("FCMs"), swap execution facilities ("SEFs"), designated contract markets ("DCMs"), and derivatives clearing organizations ("DCOs") (the "Proposal"). The Proposal addresses requirements relating to financial oversight of FCMs by self-regulatory organizations ("SROs") and designated self- regulatory organizations ("DSROs"), as well as disclosure requirements by FCMs regarding affiliate relationships that an FCM has with a SEF, DCM, or DCO. For SEFs, DCMs, and DCOs, the Proposal would also establish requirements, including conflicts of interest rules, to address those registered entities' relationships with certain affiliates, such as FCM affiliates and affiliated principal trading firms. The Proposal includes guidance regarding the implementation of safeguards to protect the impartiality of SEFs, DCMs, and DCOs, including where applicable in their role as SROs or performing SRO functions with respect to certain affiliates. The guidance addresses the sharing of resources including staffing, technology, and office space, and limitations on the sharing of non-public information.
What this item does
The short version, using the agency's own summary text.
The Commodity Futures Trading Commission ("CFTC" or "Commission") is proposing new rules and amendments to its existing regulations for futures commission merchants ("FCMs"), swap execution facilities ("SEFs"), designated contract markets ("DCMs"), and derivatives clearing organizations ("DCOs") (the "Proposal"). The Proposal addresses requirements relating to financial oversight of FCMs by self-regulatory organizations ("SROs") and designated self- regulatory organizations ("DSROs"), as well as disclosure requirements by FCMs regarding affiliate relationships that an FCM has with a SEF, DCM, or DCO. For SEFs, DCMs, and DCOs, the Proposal would also establish requirements, including conflicts of interest rules, to address those registered entities' relationships with certain affiliates, such as FCM affiliates and affiliated principal trading firms. The Proposal includes guidance regarding the implementation of safeguards to protect the impartiality of SEFs, DCMs, and DCOs, including where applicable in their role as SROs or performing SRO functions with respect to certain affiliates. The guidance addresses the sharing of resources including staffing, technology, and office space, and limitations on the sharing of non-public information.
Notice of proposed rulemaking.
Important dates
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Published
August 6, 2026
Federal rulebook sections mentioned
These are the parts of the Code of Federal Regulations cited in the filing.