An overview of the CFTC’s modernized recordkeeping requirements


On May 23, 2017, the U.S. Commodity Futures Trading Commission unanimously approved a revamped CFTC Rule 1.31, which specifies the form and manner that records must be kept by commodities market participants, and a slight modification to CFTC Rule 23.203, which pertains to swaps record retention. This modernized edition of Rule 1.31 aims to simplify and streamline the CFTC’s recordkeeping procedures and goes into effect on August 28, 2017. Because Rule 1.31 specifies the form and manner for keeping all CFTC-required records, the effects of this rulemaking will be significant.


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