Commodity Futures Trading Commission: Core Principles and Other Requirements for Designated Contract Markets
GAO-12-865R: Jul 3, 2012
- Full Report:
GAO reviewed the Commodity Futures Trading Commission's (Commission) new rule on core principles and other requirements for designated contract markets. GAO found that (1) the final rule applies to the designation and operation of contract markets, and implements the Dodd-Frank Act's new statutory framework that, among other things, amends section 5 of the Commodity Exchange Act (CEA) concerning designation and operation of contract markets, and adds a new CEA section 2(h)(8) to mandate the listing, trading, and execution of certain swaps on designated contract markets; and (2) Commission complied with applicable requirements in promulgating the rule.