CFTC Proposes Action to Extend Dodd-Frank Deadline for Implementing Swaps Provisions

“We are pleased that the CFTC is proposing to take quick and appropriate action to stave off these unintended, but potentially damaging, impacts of the Dodd-Frank reform law,” the NGFA concluded.

The NGFA in a previous statement submitted to the CFTC earlier this year had urged the agency to exempt bona-fide hedgers and end-users of agricultural commodities from costly and burdensome regulations – including extensive registration, reporting, recordkeeping and other requirements – that generally will apply to swap dealers under the Dodd-Frank law enacted by Congress last year.