On June 14, the Futures Industry Association and the Commodity Markets Council submitted a petition asking the Commodity Futures Trading Commission to amend the Ownership and Control Reports Rule. The petition asks the CFTC to codify no-action relief that CFTC staff has issued to ease compliance burdens for firms and recommends further enhancements to the rule. FIA and CMC believe that the rule, as proposed to be amended, will significantly improve the rule’s effectiveness for the CFTC and market participants.
