§ 41.32. Continuing obligations.
314 words·~1 min read·
/us/cfr/t17/s§ 41.32·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)(1) A board of trade designated as a contract market in security futures products pursuant to § 41.31 of this chapter shall:
(i)Notify the Commission of any change in its regulatory status with the Securities and Exchange Commission or with a futures association registered under section 17 of the Act;
(ii)Comply with the filing requirements of section 2(a)(1)(D)(vii) of the Act each time the board of trade lists a security futures product for trading;
(iii)Provide the Commission with any new rules or rule amendments that relate to the trading of security futures products, including both operational rules and the terms and conditions of products listed for trading on the facility, promptly after final implementation of such rules or rule amendments; and
(iv)Upon request, file promptly with the Commission---
(A)Such information related to its business as a designated contract market in security futures products as the Commission may request; and
(B)A written demonstration, containing such supporting data and other information and documents as the Commission may specify, that the board of trade is in compliance with one or more applicable provisions of the Act or regulations thereunder as specified in the request.
(2)Any information filed pursuant to paragraph
(a)of this section shall be addressed to the Secretary of the Commission at its Washington, D.C. headquarters, shall be labeled "SFPCM Continuing Obligations," and may be transmitted in either electronic or hard copy form.
(b)Except as exempted under section 5f(b) of the Act or under §§ 41.33 and 41.34 of this chapter, any board of trade designated as a contract market in security futures products pursuant to § 41.31 of this chapter shall be subject to all applicable requirements of the Act and regulations thereunder. Failure to comply shall subject the board of trade to Commission action under, among other provisions, sections 5e and 6(b) of the Act.