The Commodity Futures Trading Commission has proposed to amend its regulations to eliminate the requirement for registered firms to provide annual privacy notices to their customers, under certain conditions, consistent with amendments made to the Gramm-Leach-Bliley Act in late 2015. If adopted, the proposed amendments would provide an exemption to registered futures commission merchants, retail foreign exchange dealers, commodity trading advisors, commodity pool operators, introducing brokers, major swap participants and swap dealers from the requirement to deliver an annual privacy notice.

To qualify for the exemption, a registrant must meet the following conditions:

(1) The instances in which the registrant provides nonpublic personal information to unaffiliated third parties must be limited to certain specified exceptions set forth in CFTC Regulations and any other exceptions adopted by the CFTC; and

(2) The registrant must not have changed its policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were previously disclosed to the customer.

Comments on the proposal may be submitted up to 60 days after publication in the Federal Register.

More information is available here.