CFTC’s Project KISS Gets Underway: Giancarlo Makes the First Move
Client Memorandum

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Few have embraced President Trump’s Executive Order on Core Principles for Regulating the U.S. Financial System as swiftly and decisively as CFTC Acting Chair Christopher Giancarlo.  His Project KISS – Keep It Simple, Stupid, announced within weeks of the Executive Order, is an agency-wide internal review focused on simplifying and modernizing CFTC rules, regulations and practices to ease regulatory burdens in the spirit of job creation and economic growth.  On May 3, the CFTC furthered its efforts toward implementing the Core Principles.  It released a request for public input on Project KISS and a Proposal to amend certain duties of swap dealer and FCM CCOs and requirements concerning the content of required CCO annual reports.