CFTC proposes anti-identity theft rule

The CFTC approved rules for publication that will require futures commission merchants (“FCM”), introducing brokers (“IB”), commodity pool operators (“CPO”), and other CFTC-regulated entities to create policies for responding to red flags signaling identity theft.

Under the proposed rules, the CFTC-regulated entities must adopt programs that include polices to:

  • Identify red flags
  • Detect the occurrence of red flags
  • Respond appropriately to red flags
  • Update programs periodically

The rule will include guidelines and examples of red flags to help firms develop and implement their programs.

Read more about the proposed rule.

Photo credit: Steve Snodgrass

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