# 2026-15948: CFTC Targets Trading Family Feuds: No More Insider Swaps? 2026-15948, Conflicts and Affiliations, is a Federal Register proposed rule from Commodity Futures Trading Commission published 2026-08-06, effective Comments must be in writing and received by October 5, 2026.; PRIA reads it as touching household money (as of 2026-08-13). - Canonical: https://policyrisk.com/federal-register/2026-15948 - As of: 2026-08-13 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Document number: 2026-15948 - Title: Conflicts and Affiliations - Type: Proposed Rule - Agencies: Commodity Futures Trading Commission - Citation: 91 FR 50926 - Published: 2026-08-06 - Effective: Comments must be in writing and received by October 5, 2026. - Comments close: 2026-10-05 - Significant: no - Touches household money: yes - Regulation identifier numbers: 3038-AF76 - Last updated: 2026-08-13 ## In one line CFTC Targets Trading Family Feuds: No More Insider Swaps? ## Summary The Commodity Futures Trading Commission ("CFTC" or "Commission") is proposing new rules and amendments to its existing regulations for futures commission merchants ("FCMs"), swap execution facilities ("SEFs"), designated contract markets ("DCMs"), and derivatives clearing organizations ("DCOs") (the "Proposal"). The Proposal addresses requirements relating to financial oversight of FCMs by self-regulatory organizations ("SROs") and designated self- regulatory organizations ("DSROs"), as well as disclosure requirements by FCMs regarding affiliate relationships that an FCM has with a SEF, DCM, or DCO. For SEFs, DCMs, and DCOs, the Proposal would also establish requirements, including conflicts of interest rules, to address those registered entities' relationships with certain affiliates, such as FCM affiliates and affiliated principal trading firms. The Proposal includes guidance regarding the implementation of safeguards to protect the impartiality of SEFs, DCMs, and DCOs, including where applicable in their role as SROs or performing SRO functions with respect to certain affiliates. The guidance addresses the sharing of resources including staffing, technology, and office space, and limitations on the sharing of non-public information. ## Effects PRIA read - SRO oversight: separate lines and DSRO ban: mixed, medium. If an SRO (for example, a designated contract market) has an affiliated futures commission merchant (FCM), the Proposal would require the SRO to establish a separate reporting line for staff performing self-regulatory functions and would prohibit that SRO from acting as the DSRO (designated self-re… - Stronger FCM affiliate disclosures: benefit, low. If you are an FCM, the Proposal would strengthen public-disclosure requirements under Commission Regulation 1.55 so you must disclose affiliate relationships the FCM has with a SEF, DCM, or DCO. - Exchange and clearinghouse conflicts rules: benefit, medium. If you run a SEF, DCM, or DCO, the Proposal would create new conflicts-of-interest requirements and guidance that require safeguards to protect impartiality. That guidance addresses limits on sharing staffing, technology, and office space with affiliates and places limits on sharing non-public info… - DCMs face extra rules for affiliated traders: cost, medium. The Proposal would subject designated contract markets (DCMs) that have affiliate principal trading firms to additional requirements. The Proposal references proposed new Commission regulations (including 38.852(b) and (c)) addressing prohibitions on affiliate principal trading firms and a conditio… - DCM surveillance rules and RSP responsibilities: benefit, medium. The Proposal would amend Commission Regulations 38.604 and 38.606 to address DCM financial surveillance of members and third-party regulatory service providers (RSPs). Under existing rules, a DCM may designate an RSP but remains responsible for compliance; the Proposal would revise those surveillan… ## Related documents - [2026-19290](https://policyrisk.com/federal-register/2026-19290): Privacy Act Regulations, 2026-09-21 - [2026-14509](https://policyrisk.com/federal-register/2026-14509): Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants, 2026-07-17 - [2026-05635](https://policyrisk.com/federal-register/2026-05635): Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets, 2026-03-23 - [2026-20446](https://policyrisk.com/federal-register/2026-20446): Agency Information Collection Activities Under OMB Review, 2026-10-06 - [2026-19338](https://policyrisk.com/federal-register/2026-19338): Agency Information Collection Activities: Notice of Intent To Extend, 2026-09-22 - [2026-19006](https://policyrisk.com/federal-register/2026-19006): Whistleblower Award Determination, 2026-09-16 ## Sources - [2026-15948 on federalregister.gov](https://www.federalregister.gov/documents/2026/08/06/2026-15948/conflicts-and-affiliations) - [2026-15948 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-08-06/pdf/2026-15948.pdf) ## Related - [Previous: 2026-15929, Improving Emergency Medical Kit Efficacy and Flexibility in Commercial Airline…](https://policyrisk.com/federal-register/2026-15929) - [Next: 2026-15953, Oil and Gas and Sulfur Operations on the Outer Continental Shelf-Revisions to t…](https://policyrisk.com/federal-register/2026-15953) - [All Federal Register documents](https://policyrisk.com/federal-register) Source: PRIA, https://policyrisk.com/federal-register/2026-15948 (as of 2026-08-13).