CFTC Update

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues No-Action Relief for Certain Futures Commission Merchants Concerning Annual Reports of Chief Compliance Officers

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter that provides certain futures commission merchants (FCMs) with limited relief surrounding the requirement that chief compliance officers of such FCMs prepare and submit an Annual Report, pursuant to Commission Regulation 3.3.

Coalition Letter Asks President to Welcome Japan into TPP

The food and agricultural organizations and companies that signed onto this letter strongly support the entry of Japan into the Trans-Pacific Partnership (TPP) negotiations and urge the United States and the other members of the TPP to welcome Japan as a full member as quickly as possible.

Click here to read the submitted letter.

CFTC’s Division of Clearing and Risk Issues Limited No-Action Relief from Required Clearing for Partial Novation and Partial Termination of Certain Swaps

CFTC’s Division of Clearing and Risk Issues Limited No-Action Relief from Required Clearing for Partial Novation and Partial Termination of Certain Swaps

The Commission’s Division of Clearing and Risk (Division) today issued a no-action letter that provides relief from required clearing for a limited set of “stub swaps” that remain after the partial novation or partial termination of an original swap that was not required to be cleared because it was executed prior to an applicable compliance date for required clearing.

CFTC Announces that Mandatory Clearing Begins Today

CFTC Announces that Mandatory Clearing Begins Today

Today, swap dealers, major swap participants and private funds active in the swaps market are required to begin clearing certain index credit default swaps (CDS) and interest rate swaps that they entered into on or after March 11, 2013.

CMC Signs onto Coalition Letter

CMC signed onto this letter with agricultural groups to US Trade Representative Ron Kirk commending him on the launch of free trade agreement negotiations with the EU.  Click here to read the letter.