The Commodity Futures Trading Commission has adopted rules that simplify requirements for compliance officers and harmonize the agency’s approach to compliance with the SEC.
The CFTC says the amendments “modify the CCO annual report content and submission requirements to reduce report preparation burdens while also making the reports more effective,” but still require CCOs to be “actively engaged in administering a firm’s compliance policies and procedures.”
The agency said the new rules synchronize requirements with the SEC for compliance officers at security-based swap dealers.