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Articles tagged by Time-Limited no-action letter

CFTC Extends Relief on Reporting Rules The Commodity Futures Trading Commission (CFTC) has issued a time-limited no-action letter that extends relief provided to certain CFTC-registered swap dealers (SD) and major swap participants (MSP) in CFTC Letter No. 15-61. The latest no-action letter states that the commission’s Division of Market Oversight will not recommend the CFTC take an enforcement action against a non-US SD or a non-US MSP established in Australia, Canada, the European Union, Japan or Switzerland, that is not part of an affiliated group in which the ultimate parent entity is a US SD, US MSP, US bank, US financial holding company, or US bank holding company, for failure to comply with the swap data reporting requirements of Part 45 and Part 46 of the CFTC’s regulations (SDR Reporting Rules), with respect to its swaps with non-US counterparties that are not guaranteed affiliates, or conduit affiliates, of a US person.