cfr_sections
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12 rows where part_number = 40 and title_number = 17 sorted by section_id
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| section_id ▼ | title_number | title_name | chapter | subchapter | part_number | part_name | subpart | subpart_name | section_number | section_heading | agency | authority | source_citation | amendment_citations | full_text |
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| 17:17:1.0.1.1.33.0.7.1 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.1 Definitions. | CFTC | [89 FR 88622, Nov. 7, 2024] | As used in this part: Business day means the intraday period of time starting at 8:15 a.m. and ending at 4:45 p.m. Eastern Standard Time or Eastern Daylight Savings Time, whichever is currently in effect in Washington, DC, on all days except Saturdays, Sundays, and Federal holidays in Washington, DC. Dormant designated contract market means any designated contract market on which no trading has occurred for a period of 365 days; provided, however, no designated contract market shall be considered dormant if its initial and original Commission order of designation was issued within the preceding 1,095 days. Dormant derivatives clearing organization means any derivatives clearing organization registered pursuant to section 5b of the Act that has not accepted for clearing any agreement, contract or transaction that is required or permitted to be cleared by a derivatives clearing organization under sections 5b(a) and 5b(b) of the Act, respectively, for a period of 365 days; provided, however, no derivatives clearing organization shall be considered dormant if its initial and original Commission order of registration was issued within the preceding 1,095 days. Dormant swap data repository means any registered swap data repository on which no data has resided for a period of 365 days. Dormant swap execution facility means any swap execution facility on which no trading has occurred for a period of 365 days; provided, however, no swap execution facility shall be considered dormant if its initial and original Commission order of registration was issued within the preceding 1,095 days. Emergency means any occurrence or circumstance that, in the opinion of the governing board of a registered entity, or a person or persons duly authorized to issue such an opinion on behalf of the governing board of a registered entity under circumstances and pursuant to procedures that are specified by rule, requires immediate action and threatens or may threaten such things as the fair and orderly trading in, or the liqui… | ||||||
| 17:17:1.0.1.1.33.0.7.10 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.10 Special certification procedures for submission of rules by systemically important derivatives clearing organizations. | CFTC | [76 FR 44790, July 27, 2011, as amended at 89 FR 88628, Nov. 7, 2024] | (a) Advance notice. A systemically important derivatives clearing organization, as defined in § 39.2 of this chapter, shall provide notice to the Commission not less than 60 days in advance of any proposed change to its rules, procedures, or operations that could materially affect the nature or level of risks presented by the systemically important derivatives clearing organization. A notice submitted under this section shall be subject to the filing requirements of § 40.6(a)(1) and the website publication requirements of § 40.6(a)(2). (1) The notice of a proposed change shall provide the information required to be submitted under § 40.6(a)(7) and shall specifically describe: (i) The nature of the change and expected effects on risks to the systemically important derivatives clearing organization, its clearing members, or the market; and (ii) How the systemically important derivatives clearing organization plans to manage any identified risks. (2) Concurrent with providing the Commission with the advance notice or any request or other information related to the advance notice, the systemically important derivatives clearing organization shall provide the Board of Governors of the Federal Reserve System with a copy of such notice, request or other information in the same format and manner as required by the Board of Governors for those designated financial market utilities for which it is the Supervisory Agency pursuant to section 803(8) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. (3) The systemically important derivatives clearing organization may request that the Commission expedite the review on the grounds that the change would materially decrease risk. The Commission, in its discretion, may expedite the review and, pursuant to paragraph (g) of this section, notify the systemically important derivatives clearing organization in less than 60 days from the date the Commission receives the notice of proposed change in writing that it does not object to the proposed change and authoriz… | ||||||
| 17:17:1.0.1.1.33.0.7.11 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.11 Review of event contracts based upon certain excluded commodities. | CFTC | (a) Prohibition. A registered entity shall not list for trading or accept for clearing on or through the registered entity any of the following: (1) An agreement, contract, transaction, or swap based upon an excluded commodity, as defined in Section 1a(19)(iv) of the Act, that involves, relates to, or references terrorism, assassination, war, gaming, or an activity that is unlawful under any State or Federal law; or (2) An agreement, contract, transaction, or swap based upon an excluded commodity, as defined in Section 1a(19)(iv) of the Act, which involves, relates to, or references an activity that is similar to an activity enumerated in § 40.11(a)(1) of this part, and that the Commission determines, by rule or regulation, to be contrary to the public interest. (b) [Reserved] (c) 90-day review and approval of certain event contracts. The Commission may determine, based upon a review of the terms or conditions of a submission under § 40.2 or § 40.3, that an agreement, contract, transaction, or swap based on an excluded commodity, as defined in Section 1a(19)(iv) of the Act, which may involve, relate to, or reference an activity enumerated in § 40.11(a)(1) or § 40.11(a)(2), be subject to a 90-day review. The 90-day review shall commence from the date the Commission notifies the registered entity of a potential violation of § 40.11(a). (1) The Commission shall request that a registered entity suspend the listing or trading of any agreement, contract, transaction, or swap based on an excluded commodity, as defined in Section 1a(19)(iv) of the Act, which may involve, relate to, or reference an activity enumerated in § 40.11(a)(1) or § 40.11(a)(2), during the Commission's 90-day review period. The Commission shall post on the Web site a notification of the intent to carry out a 90-day review. (2) Final determination. The Commission shall issue an order approving or disapproving an agreement, contract, transaction, or swap that is subject to a 90-day review under § 40.11(c) not later than 90 days subsequent… | |||||||
| 17:17:1.0.1.1.33.0.7.12 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.12 Staying of certification and tolling of review period pending jurisdictional determination. | CFTC | (a) Notice of novel derivative products. (1) A registered entity certifying, submitting for approval, or otherwise filing a proposal to list, trade, or clear a novel derivative product (other than a product subject to the provisions of § 1.8 of this chapter) having elements of both a security and a contract for the sale of a commodity for future delivery (or an option on such contract or an option on a commodity) may provide notice of its proposal to the Commission and the Securities and Exchange Commission with a statement that written notice has been provided to both agencies through an appropriate means provided in each Commission's regulations. (2) If concurrent notice is not provided pursuant to § 40.12(a)(1), the Commission shall notify the Securities and Exchange Commission of the registered entity's submission of a novel derivative product described in § 40.12(a)(1) and accompany such notice with a copy of the submission. The Commission shall determine whether a particular submission is a novel derivative product requiring notice to the Securities and Exchange Commission not later than five business days subsequent to the date that the registered entity submits the product for Commission review. (b) Tolling of review period. Upon receipt of a request for a jurisdictional determination, pursuant to Section 718(a)(2) of the Dodd-Frank Act, by the Commission or the Securities and Exchange Commission, the product certification shall be stayed or the approval review period shall be tolled until a final determination order is issued. (1) The Commission will provide the registered entity with a written notice of stay pending issuance of a final determination order by the Commission or the Securities and Exchange Commission. (2) The stay shall be withdrawn or the approval review period shall resume upon the Commission's or the Securities and Exchange Commission's issuance of a final determination order finding that the Commission has jurisdiction over the submission. (3) Determination order. A final de… | |||||||
| 17:17:1.0.1.1.33.0.7.2 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.2 Listing products for trading by certification. | CFTC | [76 FR 44790, July 27, 2011, as amended at 89 FR 88623, Nov. 7, 2024; 89 FR 96897, Dec. 6, 2024] | (a) Submission requirements. A designated contract market or a swap execution facility must comply with the submission requirements of this section prior to listing a product for trading that has not been approved under § 40.3. A submission shall comply with the following conditions: (1) The designated contract market or the swap execution facility has filed its submission electronically in a format and manner specified by the Commission; (2) The Commission has received the submission by the open of business on the business day preceding the product's listing; and (3) The submission includes: (i) The information required by appendix D to this part; (ii) A copy of the rules that set forth the contract's terms and conditions; (iii) The intended listing date; (iv) A certification by the designated contract market or the swap execution facility that the product to be listed complies with the Act and Commission regulations thereunder; (v) A concise explanation and analysis that is complete with respect to the product's terms and conditions, the underlying commodity, and the product's compliance with applicable provisions of the Act, including core principles, and the Commission's regulations thereunder. This explanation and analysis shall either be accompanied by the documentation relied upon to establish the basis for compliance with applicable law, or incorporate information contained in such documentation, with appropriate citations to data sources; (vi) A certification that the registered entity posted a notice of a pending product certification with the Commission and a copy of the submission, concurrent with the filing of a submission with the Commission, on the registered entity's website. Information that the registered entity seeks to keep confidential may be redacted from the documents published on the registered entity's website but must be republished consistent with any determination made pursuant to § 40.8(c)(4); and (vii) A request for confidential treatment, if appropriate, as permitted und… | ||||||
| 17:17:1.0.1.1.33.0.7.3 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.3 Voluntary submission of new products for Commission review and approval. | CFTC | [76 FR 44790, July 27, 2011, as amended at 89 FR 88623, Nov. 7, 2024] | (a) Request for approval. Pursuant to section 5c(c) of the Act, a designated contract market, a swap execution facility, or a derivatives clearing organization may request that the Commission approve a new product prior to listing the product for trading or accepting the product for clearing, or if a product was initially submitted under § 40.2 or § 39.5 of this chapter, subsequent to listing the product for trading or accepting the product for clearing. A submission requesting approval shall: (1) Be filed electronically in a format and manner specified by the Commission; (2) Include the information required by appendix D to this part; (3) Include a copy of the rules that set forth the contract's terms and conditions; (4) Include an explanation and analysis that is complete with respect to the product's terms and conditions, the underlying commodity, and the product's compliance with applicable provisions of the Act, including core principles, and the Commission's regulations thereunder. This explanation and analysis shall either be accompanied by the documentation relied upon to establish the basis for compliance with the applicable law, or incorporate information contained in such documentation, with appropriate citations to data sources; (5) Describe any agreements or contracts entered into with other parties that enable the registered entity to carry out its responsibilities; (6) Include the certifications required in § 41.22 for product approval of a commodity that is a security future or a security futures product as defined in Sections 1a(44) or 1a(45) of the Act, respectively; (7) Include, if appropriate, a request for confidential treatment as permitted under § 40.8; (8) Include the filing fee required under appendix A to this part; (9) Certify that the registered entity posted a notice of its request for Commission approval of the new product and a copy of the submission, concurrent with the filing of a submission with the Commission, on the registered entity's website. Information the regist… | ||||||
| 17:17:1.0.1.1.33.0.7.4 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.4 Amendments to terms or conditions of enumerated agricultural products. | CFTC | [89 FR 88624, Nov. 7, 2024] | (a) Notwithstanding the provisions of this part, a designated contract market must submit for Commission approval under the procedures of § 40.5, prior to its implementation, any rule that, for a delivery month having open interest, would materially change a product's term or condition, as defined in § 40.1, of a contract for future delivery in an agricultural commodity enumerated in section 1a(9) of the Act, or of an option on such a contract or commodity. (b) The following rules or rule amendments are not material and are not required by this section to be submitted for Commission approval under the procedures of § 40.5: (1) Rules or rule amendments that are enumerated in § 40.6(d)(2) may be implemented without prior approval or certification, provided that they are implemented pursuant to the notification procedures of § 40.6(d); (2) Rules or rule amendments that are enumerated in § 40.6(e)(2) may be implemented without prior approval or certification or notification as permitted pursuant to § 40.6(e); (3) Rules or rule amendments governing trading hours may be implemented without prior approval, provided that they are implemented pursuant to the procedures of sect; 40.6(a); (4) Rules or rule amendments that are required to comply with a binding order of a court of competent jurisdiction, or a rule, regulation or order of the Commission or of another Federal regulatory authority, may be implemented without prior approval, provided that they are implemented pursuant to the procedures of § 40.6(a); or (5) Any rule or rule amendment: (i) The text of which has been submitted pursuant to the procedures of paragraph (b)(5) of this section and § 40.6(a) at least ten business days prior to its implementation and that has been labeled “Non-Material Agricultural Rule Change;” (ii) For which the designated contract market has provided an explanation as to why it considers the rule “non-material,” and any other information that may be beneficial to the Commission in analyzing the merits of the entity's claim of no… | ||||||
| 17:17:1.0.1.1.33.0.7.5 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.5 Voluntary submission of rules for Commission review and approval. | CFTC | [76 FR 44790, July 27, 2011, as amended at 89 FR 88625, Nov. 7, 2024; 89 FR 96897, Dec. 6, 2024] | (a) Request for approval of rules. Pursuant to section 5c(c) of the Act, a registered entity may request that the Commission approve a new rule or rule amendment prior to implementation of the rule, or if the rule or rule amendment was initially submitted under § 40.2 or 40.6, subsequent to implementation of the rule. A request for approval shall: (1) Be filed electronically in a format and manner specified by the Commission; (2) Include the information required by appendix D to this part; (3) Set forth the text of the rule or rule amendment (in the case of a rule amendment, deletions and additions must be indicated); (4) Describe the proposed effective date of the rule or rule amendment and any action taken or anticipated to be taken to adopt the proposed rule by the registered entity or by its governing board or by any committee thereof, and cite the rules of the entity that authorize the adoption of the proposed rule; (5) Provide an explanation and analysis that is complete with respect to the operation, purpose, and effect of the proposed rule or rule amendment and its compliance with applicable provisions of the Act, including core principles, and the Commission's regulations thereunder, including, as applicable, a description of the anticipated benefits to market participants or others, any potential anticompetitive effects on market participants or others, and how the rule fits into the registered entity's framework of self-regulation; (6) Certify that the registered entity posted a notice of its request for Commission approval of the new rule or rule amendment and a copy of the submission, concurrent with the filing of a submission with the Commission, on the registered entity's website. Information the registered entity seeks to keep confidential may be redacted from the documents published on the registered entity's website but must be republished consistent with any determination made pursuant to § 40.8(c)(4); (7) Provide additional information which may be beneficial to the Commission in anal… | ||||||
| 17:17:1.0.1.1.33.0.7.6 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.6 Self-certification of rules. | CFTC | [76 FR 44790, July 27, 2011, as amended at 76 FR 45666, Aug. 1, 2011; 89 FR 88626, Nov. 7, 2024] | (a) Submission requirements. A registered entity shall comply with the certification and submission requirements of this section prior to implementing any rule that has not obtained Commission approval under § 40.5, or that is submitted under § 40.10, except as otherwise provided by § 40.10(a). A submission shall comply with the following conditions: (1) The registered entity has filed its submission electronically in a format and manner specified by the Commission. (2) The registered entity has provided a certification that the registered entity posted a notice of pending certification with the Commission and a copy of the submission, concurrent with the filing of a submission with the Commission, on the registered entity's website. Information that the registered entity seeks to keep confidential may be redacted from the documents published on the registered entity's website but it must be republished consistent with any determination made pursuant to § 40.8(c)(4). (3) The Commission has received the submission not later than the open of business on the business day that is 10 business days prior to the registered entity's implementation of the rule or rule amendment. (4) The Commission has not stayed the submission pursuant to § 40.6(c). (5) The rule or rule amendment is not a rule or rule amendment of a designated contract market that materially changes a term or condition of a contract for future delivery of an agricultural commodity enumerated in section 1a(9) of the Act or an option on such a contract or commodity in a delivery month having open interest. (6) Rule certifications implemented in response to an emergency. (i) Rules or rule amendments implemented under procedures of the governing board to respond to an emergency as defined in § 40.1, shall, if practicable, be filed with the Commission prior to the implementation or, if not practicable, be filed with the Commission at the earliest possible time after implementation, but in no event more than twenty-four hours after implementation. Such… | ||||||
| 17:17:1.0.1.1.33.0.7.7 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.7 Delegations. | CFTC | [76 FR 44790, July 27, 2011, as amended at 78 FR 22419, Apr. 16, 2013; 89 FR 88628, Nov. 7, 2024] | (a) Procedural matters. (1) The Commission hereby delegates, until it orders otherwise, to the Director of the Division of Clearing and Risk and, separately, to the Director of the Division of Market Oversight, to be exercised by either Director, as appropriate, or by such employees of the Commission that either Director may designate from time to time, the following authorities, with the concurrence of the General Counsel or the General Counsel's delegate: (i) To request, pursuant to § 40.3(c)(2) or § 40.5(c)(1)(ii) of this part, that the registered entity requesting approval amend the proposed product, rule or rule amendment, or supplement the submission to the Commission; (ii) To notify the registered entity, pursuant to § 40.3(e) or § 40.5(e) of this part, that the Commission is not approving, or is unable to approve, the proposed product, rule or rule amendment; (iii) To make all determinations reserved to the Commission in § 40.10. (2) The Commission hereby delegates, until it orders otherwise, to the Director of the Division of Clearing and Risk and, separately, to the Director of the Division of Market Oversight, to be exercised by either Director, as appropriate, or by such employees of the Commission that either Director may designate from time to time, the following authorities, after consultation with the Office of General Counsel or the General Counsel's delegate to notify a registered entity: (i) Pursuant to § 40.3(d) of this part, that the time for review of the submission has been extended because the product raises novel or complex issues that require additional time for review; (ii) Pursuant to § 40.5(d) of this part, that the time for review of the submission has been extended because the proposed rule or rule amendment raises novel or complex issues that require additional time for review or is of major economic significance; (iii) Pursuant to § 40.6(c) of this part, that the proposed rule or rule amendment has been stayed because there exist novel or complex issues that require addit… | ||||||
| 17:17:1.0.1.1.33.0.7.8 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.8 Availability of public information. | CFTC | [76 FR 44790, July 27, 2011, as amended at 80 FR 59578, Oct. 2, 2015] | (a) The following sections of all applications to become a designated contract market, swap execution facility, derivatives clearing organization, or swap data repository shall be made publicly available: Transmittal letter and first page of the application cover sheet, proposed rules, narrative summary of the applicant's proposed activities and regulatory compliance chart, documents establishing the applicant's legal status, documents setting forth the applicant's corporate and governance structure and any other part of the application not covered by a request for confidential treatment. (b) [Reserved] (c) A registered entity's filing of new products pursuant to the self-certification procedures of § 40.2 of this part, new products for Commission review and approval pursuant to § 40.3 of this part, new rules and rule amendments for Commission review and approval pursuant to § 40.4 or § 40.5 of this part, and new rules and rule amendments pursuant to the self-certification procedures of § 40.6 and § 40.10 of this part shall be treated as public information unless accompanied by a request for confidential treatment. If a registered entity files a request for confidential treatment, the following procedures shall apply: (1) A detailed written justification of the confidential treatment request must be filed simultaneously with the request for confidential treatment. The form and content of the detailed written justification shall be governed by § 145.9 of this chapter; (2) All material for which confidential treatment is requested must be segregated in an appendix to the submission; (3) The submission itself must indicate that material has been segregated and, as appropriate, an additional redacted version provided; (4) Commission staff may make an initial determination with respect to the request for confidential treatment without regard to whether a request for the information has been sought under the Freedom of Information Act; (5) All requests for confidential treatment shall be subject to the process p… | ||||||
| 17:17:1.0.1.1.33.0.7.9 | 17 | Commodity and Securities Exchanges | I | 40 | PART 40—PROVISIONS COMMON TO REGISTERED ENTITIES | § 40.9 [Reserved] | CFTC |
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CREATE TABLE cfr_sections (
section_id TEXT PRIMARY KEY,
title_number INTEGER,
title_name TEXT,
chapter TEXT,
subchapter TEXT,
part_number TEXT,
part_name TEXT,
subpart TEXT,
subpart_name TEXT,
section_number TEXT,
section_heading TEXT,
agency TEXT,
authority TEXT,
source_citation TEXT,
amendment_citations TEXT,
full_text TEXT
);
CREATE INDEX idx_cfr_title ON cfr_sections(title_number);
CREATE INDEX idx_cfr_part ON cfr_sections(part_number);
CREATE INDEX idx_cfr_agency ON cfr_sections(agency);