The CFTC approved final aggregation rules, which were published in the Federal Register. The effective date for the final rules is February 14, 2017.
As previously i ndicated, the aggregation rules amend CFTC Rules Part 150 ("Limits on Positions") with respect to the policy for aggregation under the position limits regime for futures and option contracts on nine agricultural commodities. The CFTC's current account aggregation standards, which generally require the aggregation of positions held in accounts for any person controlling or holding ten percent or more of the ownership of such accounts, would permit additional exemptions from aggregation where:
- the sharing of information would violate or create the reasonable risk of violating federal, state or foreign jurisdiction laws or regulations;
- ownership interest is greater than ten percent in an entity whose trading is controlled independently and a notice filing has been submitted to the CFTC; and
- ownership results from activities in the person's normal course of business as a dealer.
A Cadwalader memorandum regarding the final rule is available here.
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