From: JDSupra Business Advisor
by Bart Chilton, Bradley Cohen, Nicolette Kost de Sevres | DLA Piper
Amid growing concern regarding cybersecurity preparedness, the US derivatives regulator recently issued regulations aimed at strengthening cybersecurity obligations for certain financial services entities. On September 8, 2016, the Commodity Futures Trading Commission (CFTC) adopted amendments to its system safeguard rules for designated contract markets (DCMs), swap execution facilities (SEFs), and swap data repositories (SDRs) (collectively, Exchanges), as well as for derivatives clearing organizations (Clearinghouses).
The final rules for Exchanges and Clearinghouses are part of two parallel rulemakings, collectively referred to herein as the CFTC Final Rules.
CFTC FINAL RULES ON SYSTEM SAFEGUARDS TESTING REQUIREMENTS
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