CFTC Guidelines for Electronic Signatures
U. S. COMMODITY FUTURES TRADING COMMISSION (CFTC)
Congress created in the CFTC in 1974 as an independent agency with the
mandate to regulate commodity futures and option markets in the United
States. The agency's mandate has been renewed and expanded several
times since then, most recently by the Commodity Futures Modernization
Act of 2000 (CFMA).
The mission of the Commodity Futures Trading Commission (CFTC) is to
protect market users and the public from fraud, manipulation, and
abusive practices related to the sale of commodity and financial
futures and options, and to foster open, competitive, and financially
sound futures and option markets. Information pertaining to USDA
electronic signature regulations on agriculture are available here.
The United States Commodity Futures Trading Commission is regulated
by the Code of Federal Regulations (17 CFR). The CFTC regulations
concerning electronic signatures can be found in 17 CFR Chapter I
Section 1.3 "Definitions" and 1.4 "Use of electronic signatures". These
can be found in HTML or PDF.
17 CFR 1.3(tt) Electronic signature means an electronic
sound, symbol, or process attached to or logically associated with a
record and executed or adopted by a person with the intent to sign the
record.17 CFR 1.4 Act or the rules or regulations in this Chapter I that
requires a document to be signed by a customer of a futures commission
merchant or introducing broker, a pool participant or a client of a
commodity trading advisor, an electronic signature executed by the
customer, participant or client will be sufficient, if the futures
commission merchant, introducing broker, commodity pool operator or
commodity trading advisor elects generally to accept electronic
signatures;