meta_id 3364977

On July 30, 2026, the Commodities Futures Trading Commission (CFTC) published a Notice of Proposed Rulemaking seeking public comment on amendments to address affiliations among CFTC-regulated entities. The proposed amendments would modify Part 37, Part 38, and Part 39 of the CFTC's regulations, as well as Commission regulations 1.52 and 1.55. The CFTC has observed significant growth in affiliations between CFTC-regulated entities, including derivatives clearing organizations, designated contract markets, swap execution facilities, futures commission merchants, and other market participants such as market makers. The proposed rules and amendments aim to address issues arising from these vertically integrated market structures, particularly regarding perceived and potential conflicts of interest. CFTC Chairman Michael S. Selig said the proposal would "institute purpose-fit rules of the road that bolster market integrity without stifling novel market structures or imposing excessive compliance costs on registrants." The CFTC intends to establish principles-based regulations that support responsible innovation in U.S. derivatives markets while maintaining appropriate safeguards. The comment period will remain open for 60 days following publication in the Federal Register. Market participants, including derivatives clearing organizations, designated contract markets, swap execution facilities, futures commission merchants, and other affiliated entities, should review the proposed amendments and submit comments within this timeframe. The CFTC will consider all feedback received during the comment period before finalizing the rules. REFERENCES: Commodities Futures Trading Commission, "CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Affiliations Among Certain CFTC-Regulated Entities," Press Release 9274-26, July 30, 2026, available at: https://www.cftc.gov/PressRoom/PressReleases/9274-26