Concept Release on Whether to Eliminate the Bona Fide Hedge Exemption for Certain Swap Dealers, etc.; Extension of Comment Period

Federal Register: May 22, 2009 (Volume 74, Number 98)

Proposed Rules

Page 23964-23965

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

DOCID:fr22my09-12

COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 150

RIN 3038-AC40

Concept Release on Whether To Eliminate the Bona Fide Hedge

Exemption for Certain Swap Dealers and Create a New Limited Risk

Management Exemption From Speculative Position Limits

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period.

SUMMARY: On March 24, 2009, the Commodity Futures Trading Commission

(``Commission'') published a concept release on whether to eliminate the bona fide hedge exemption for certain swap dealers and create a new limited risk management exemption from speculative position limits.

Comments on the proposal were originally due by May 26, 2009. Now, at the request of interested parties, the Commission is extending the comment period to June 16, 2009.

DATES: Comments must be received by June 16, 2009.

ADDRESSES: Written comments should be sent to David Stawick, Secretary,

Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st

Street, NW., Washington, DC 20581. Comments may also be sent by facsimile to (202) 418-5521, submitted via e-mail to secretary@cftc.gov. The words, ``Concept Release, Swap Dealers'' should appear in the subject field of responses submitted via e-mail, and should be clearly indicated in written submissions. Comments may also be submitted by connecting to the Federal eRulemaking Portal at: http:/

/www.regulations.gov and following comment submission instructions.

FOR FURTHER INFORMATION CONTACT: Donald H. Heitman, Senior Special

Counsel, Division of Market Oversight, Commodity Futures Trading

Commission, Three Lafayette Centre, 1155 21st Street, NW., Washington,

DC 20581, telephone (202) 418-5041, e-mail dheitman@cftc.gov.

SUPPLEMENTARY INFORMATION: On March 24, 2009, the Commission published and sought public comment regarding a concept release on whether to eliminate the bona fide hedge exemption for certain swap dealers and create a new limited risk management exemption from speculative position limits.

By letters dated May 12, 2009, the Futures Industry Association and the CME Group, Inc., respectively, requested that the original comment period be extended to June 16, 2009. Recognizing the significance of the issues raised in the Concept Release, and to encourage the submission of meaningful comments, the Commission has decided to grant the requests. The comment period for the Commission's Concept Release on Whether to Eliminate the Bona Fide Hedge Exemption for Certain Swap

Dealers and Create a New Limited Risk Management Exemption from

Speculative Position Limits is hereby extended to June 16, 2009.

Page 23965

Issued in Washington, DC, on May 18, 2009, by the Commission.

David A. Stawick,

Secretary of the Commission.

FR Doc. E9-12000 Filed 5-21-09; 8:45 am