On January 12, the Commodity Futures Trading Commission approved for publication in the Federal Register proposed amendments to Regulation 1.31, which contains the recordkeeping requirements under the Commodity Exchange Act and CFTC regulations. The CFTC proposes to eliminate certain outdated terms and provisions, add new definitions, and update language to reflect advances in information technology. The CFTC intends the proposed rule to be technology-neutral so that the regulation may withstand technological advancements in the future.

Comments on the proposed rules must be received within 60 days following publication of the proposed amendments in the Federal Register.

The CFTC proposed rule is available here.