Common provisions applicable to registered entities

7 U.S. Code § 7a-2. Common provisions applicable to registered entities

(a) Acceptable business practices under core principles
(1) In general
Consistent with the purposes of this chapter, the Commission may issue interpretations, or approve interpretations submitted to the Commission, of sections 7(d) and 7a–1(c)(2) of this title, to describe what would constitute an acceptable business practice under such sections.
(2) Effect of interpretation
An interpretation issued under paragraph (1) may provide the exclusive means for complying with each section described in paragraph (1).
(b) Delegation of functions under core principles
(1) In general
A contract market, derivatives transaction execution facility, or electronic trading facility with respect to a significant price discovery contract may comply with any applicable core principle through delegation of any relevant function to a registered futures association or a registered entity that is not an electronic trading facility.
(2) Responsibility
A contract market, derivatives transaction execution facility, or electronic trading facility that delegates a function under paragraph (1) shall remain responsible for carrying out the function.
(3) Noncompliance
If a contract market, derivatives transaction execution facility, or electronic trading facility that delegates a function under paragraph (1) becomes aware that a delegated function is not being performed as required under this chapter, the contract market, derivatives transaction execution facility, or electronic trading facility shall promptly take steps to address the noncompliance.
This document is only available to subscribers. Please log in or purchase access.