Trkla Co-Authors Article on CFTC Overhaul of Commodity Broker Bankruptcy Rules

Partner Katie Trkla has co-authored an article in Business Law Today, “CFTC Overhauls Its Commodity Broker Bankruptcy Rules,” about the Commodity Futures Trading Commission’s approval of a major overhaul of its Part 190 regulations governing commodity broker bankruptcy cases.

The ABA played a leading role in proposing and fostering the rule changes, the article points out, and the ABA’s Part 190 Subcommittee was honored with the “Chairman’s Award for Regulatory Excellence” by CFTC Chairman Heath Tarbert for developing a set of model rules that served as the foundation for the commission’s amendments to its Part 190 Bankruptcy Regulations. Trkla co-chaired the ABA Part 190 Subcommittee.

The comprehensive changes reflect important themes such as enhancement of rule clarity and transparency, modernization, improvement of customer protections, and the establishment of a process for administering the liquidation of a DCO.