United States: Not Your Grandmotherís Form 40
Last Updated: November 21 2016
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A common tool that the Commodity Futures Trading Commission ("CFTC" or the "Commission") relies upon to conduct market surveillance, including monitoring compliance with position limits, will soon enter the digital age Ė the Form 40 and Form 40S.† The CFTC's Division of Market Oversight ("DMO") will issue the New Form 40/40S pursuant to Special Calls to market participants that hold a reportable position in certain CFTC-regulated futures and swaps markets.

On November 18, 2016, the CFTC will cease issuing Special Calls via the Legacy Form 40/40S and begin issuing Special Calls using a new, electronic filing, submitted directly to a CFTC database.† The New Form 40/40S requests significantly more data about the reportable trader than the Legacy Form 40/40S.† Furthermore, unlike the Legacy Form 40/40S, the New Form 40/40S includes an affirmative obligation to update the reported information if and when it changes.

Please join us for a discussion focused specifically on the expanded scope of the New Form 40/40S and how best to prepare for an eventual CFTC Special Call for the New Form.†

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