The Commodity Futures Trading Commission has proposed to amend Regulation 3.21 to provide an exemption for the fingerprinting requirements for an individual who is a principal or associated person of a registrant, if such individual has not resided in the United States since reaching the age of 18 years. Under the proposal, the fingerprint card obligation would be deemed satisfied if the individual’s certifying firm conducts a criminal history background check and submits a certification to National Futures Association. The proposed rule would codify and expand relief that the Division of Swap Dealer and Intermediary Oversight previously provided in Letter No. 12-49 and Letter No. 13-29.

Comments on the proposed amendments must be submitted within 30 days following publication in the Federal Register.

The CFTC’s proposal is available here.