The CFTC revised its Freedom of Information Act ("FOIA") regulations in order to comply with the FOIA Improvement Act of 2016.
The rule change would (i) introduce the "foreseeable harm standard," which establishes that an agency can withhold information under FOIA only if (a) the agency reasonably believes that disclosure would result in harm or (b) disclosure is prohibited by law, (ii) provide that the CFTC must explore partial disclosure as an option if full disclosure is not reasonable, and (iii) make other changes to definitions and CFTC procedures in order to comply with FOIA requirements.
The interim final rule will become effective on July 20, 2017. Comments from the public on the rule must be received by August 21, 2017.
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