CFTC Seeks Extension for Consumer Financial Privacy Rules

You might care about this because the Commodity Futures Trading Commission, or CFTC, is working to continue existing rules that protect your financial information. The CFTC has asked the Office of Management and Budget, or OMB, to approve an extension of its information collection. This process is part of the Paperwork Reduction Act. This notice tells the public about this request. The rules ensure that certain financial firms protect customer privacy. These firms include futures commission merchants, commodity trading advisors, commodity pool operators, and introducing brokers. They also include retail foreign exchange dealers, swap dealers, and major swap participants. These rules come from the Commodity Futures Modernization Act of 2000 and the Gramm-Leach-Bliley Act. These laws require these firms to provide privacy notices and allow customers to opt out of certain data sharing. Firms must also have policies to keep customer records safe. In 2019, the CFTC made a change that sometimes allows firms not to send annual privacy notices. The public has until March 30, 2026, to comment on this extension request. The CFTC had previously asked for comments in December 2025 but received none. This document is important because it shows the ongoing commitment to protecting sensitive consumer financial data within the commodities and swaps markets. Even though these rules have been in place, the formal process of extending them means the CFTC is ensuring they remain current and effective. This helps maintain trust in financial markets. The Paperwork Reduction Act requires federal agencies to justify their information collection efforts. This helps prevent unnecessary burdens on businesses and ensures that the collected information serves a clear purpose. By reviewing this extension, the OMB helps make sure the rules are still needed and that the burden on firms is reasonable. The fact that the CFTC received no comments during an earlier 60-day public comment period could suggest that the current rules are widely accepted. This process provides transparency. It allows the public to see how financial regulations are maintained and updated. It also confirms that protections for consumers' financial details are not expiring. People who would be most interested in this document include anyone working in firms regulated by the CFTC. This includes futures commission merchants, commodity trading advisors, commodity pool operators, and introducing brokers. Also, retail foreign exchange dealers, swap dealers, and major swap participants need to pay attention. Compliance officers and legal teams at these financial institutions will find this notice directly relevant to their work. They must ensure their firms continue to meet privacy requirements. Consumers who engage in futures, commodities, swaps, or foreign exchange transactions might also be interested. This notice directly relates to how their personal financial information is handled and protected by these firms. Academic researchers studying financial regulation or consumer privacy might also find this document useful. They can see how existing laws are upheld. Finally, privacy advocates might follow these notices to ensure consumer protections stay strong.