The CFTC adopted rule changes allowing exceptions from
the requirement that "covered persons" (i.e.,
futures commission merchants, retail foreign exchange dealers,
CTAs, CPOs, introducing brokers, major swap participants and swap
dealers) must send customers annual privacy notices. The new
amendments were adopted as originally
proposed.
Under the adopted amendments, annual privacy notices will no
longer be required if a "covered person": (i) does not
share nonpublic personal information except as described in certain
specified exceptions and (ii) has not changed its policies and
practices with regard to disclosing nonpublic personal information
from those policies and practices that the institution had most
recently disclosed to consumers.
