The US Commodity Futures Trading Commission has announced that it is withdrawing the proposed Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants.
In the notice of withdrawal, the CFTC states that: “The Commission does not intend to issue final rules with respect to this proposal. If the Commission decides to pursue future regulatory action in this area, it will issue new proposed rules.”
The Operational Resilience Framework had proposed that regulated entities establish, document, implement, and maintain an operational resilience framework ‘reasonably designed to identify, monitor, manage, and assess risks relating to information and technology security, third-party relationships, and emergencies or other significant disruptions to normal business operations’. It was developed after a public consultation which took place in early 2024.
Read the Federal Register: Notice of Withdrawal of Proposed Rules (PDF)
