The CFTC Adopts Comprehensive Amendments to Its Bankruptcy Rules | Katten Muchin Rosenman LLP
Background The Commodity Futures Trading Commission (CFTC) recently adopted final amendments to Part 190 of the CFTC's regulations (the "Final Rules"), governing bankruptcy proceedings with respect to commodity brokers. 1 The Final Rules represent the first comprehensive update to the CFTC's bankruptcy rules since the Part 190 rules were initially adopted in 1983. Approved unanimously, the Final Rules serve to modernize and revise the CFTC's regulations to reflect changes in the commodity brokerage industry over that time. Subchapter IV, chapter 7 of the Bankruptcy Code ("Code") sets out the ...
Source: jdsupra.com