[Federal Register Volume 84, Number 208 (Monday, October 28, 2019)]
[Notices]
[Pages 57706-57707]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-23496]


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COMMODITY FUTURES TRADING COMMISSION


Request for Nominations for the Subcommittee on Margin 
Requirements for Non-Cleared Swaps Under the Global Markets Advisory 
Committee

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (CFTC or Commission) 
is requesting nominations for membership on the Subcommittee on Margin 
Requirements for Non-Cleared Swaps (Subcommittee) under the Global 
Markets Advisory Committee (GMAC). The GMAC is a discretionary advisory 
committee established by the Commission in accordance with the Federal 
Advisory Committee Act.

DATES: The deadline for the submission of nominations is November 12, 
2019.

ADDRESSES: Nominations should be emailed to [email protected] 
or sent by hand delivery or courier to Elizabeth Mastrogiacomo, Senior 
Counsel, Office of Commissioner Stump, Commodity Futures Trading 
Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 
20581. Please use the title ``GMAC Subcommittee on Margin Requirements 
for Non-Cleared Swaps'' for any nominations you submit.

FOR FURTHER INFORMATION CONTACT: Elizabeth Mastrogiacomo, Senior 
Counsel, Office of Commissioner Stump, at (202) 418-5935 or by email at 
[email protected].

SUPPLEMENTARY INFORMATION: The Subcommittee was established to examine 
the implementation of margin requirements for non-cleared swaps, to 
identify challenges associated with forthcoming implementation phases, 
and to recommend actions the Commission may take to mitigate the 
challenges identified. Within this charge, the Subcommittee may 
consider, but is not limited to, the following issues and topics:
     Identifying challenges associated with forthcoming 
implementation phases of margin requirements for non-cleared swaps 
faced by market participants, including swap dealers, asset managers, 
buy-side participants, and custodians;
     Identifying potential mitigants to the challenges faced by 
market participants regarding forthcoming implementation phases of 
margin requirements for non-cleared swaps; and
     Identifying regulatory initiatives that may address such 
challenges faced by market participants in complying with margin 
requirements for non-cleared swaps.
    The Subcommittee will provide any reports and/or recommendations 
directly to the GMAC and will not provide reports and/or 
recommendations directly to the Commission. The Subcommittee has no 
authority to make decisions on behalf of the GMAC, and no determination 
of fact or policy will be made by the Subcommittee on behalf of the 
Commission.
    Subcommittee members will generally serve as representatives and 
provide advice reflecting the views of stakeholder organizations and 
entities throughout the derivatives and financial markets. The 
Subcommittee may also include regular government employees when doing 
so furthers its purpose. It is anticipated that the Subcommittee will 
hold at least three in-person or telephonic meetings per year. 
Subcommittee members serve at the pleasure of the Commission. 
Subcommittee members do not receive compensation or honoraria for their 
services, and they are not reimbursed for travel and per diem expenses.
    The Subcommittee members will include individuals who are members 
of the GMAC and/or other individuals. For these other individuals who 
are not serving on the GMAC currently, the Commission seeks nominations 
of individuals from a wide range of perspectives, including from the 
viewpoint categories of exchanges and clearing houses, brokers and 
other market intermediaries, derivatives dealers, market end users--
financial, market end users--commercial, providers of other services, 
non-exchange self-regulatory organizations, and public interest. To 
advise the GMAC effectively, Subcommittee members must have a high 
level of expertise and experience with the margin requirements for non-
cleared swaps, including challenges faced in past implementation phases 
of the margin requirements for non-cleared swaps, challenges that 
remain in future implementation phases, efforts by industry 
participants to reduce or mitigate those challenges, and the Commodity 
Exchange Act and Commission regulations thereunder. To the extent 
practicable, the Commission will strive to select members reflecting 
wide ethnic, racial, gender, and age representation.
    The Commission invites the submission of nominations for 
Subcommittee membership. Each nomination submission should include the 
proposed member's name, title, organization affiliation and address, 
email address and telephone number, as well as information that 
supports the individual's qualifications to serve on the Subcommittee. 
The submission should also include the name, email address and 
telephone number of the person nominating the proposed Subcommittee 
member. Self-nominations are acceptable.
    Submission of a nomination is not a guarantee of selection as a 
member of the Subcommittee. As noted in the GMAC's Membership Balance 
Plan, the Commission seeks to ensure that the membership of a 
subcommittee is balanced relative to the particular issues addressed by 
the subcommittee in question. The Commission will identify members for 
the Subcommittee based on Commissioners' and Commission staff 
professional knowledge of margin requirements for non-cleared swaps, 
consultation with knowledgeable persons outside the CFTC, and requests 
to be represented received from organizations. The office of the 
Commissioner primarily responsible for the GMAC and the Subcommittee 
plays a primary, but not exclusive, role in this process and makes 
recommendations regarding membership to the Commission. The Commission, 
by vote, authorizes members to serve on GMAC subcommittees.

    Authority:  5 U.S.C. App. II.


[[Page 57707]]


    Dated: October 23, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-23496 Filed 10-25-19; 8:45 am]
 BILLING CODE 6351-01-P