CFTC Updates

The following Final Rule has been published:

  • 78 FR 20788
    Dual and Multiple Associations of Persons Associated With Swap Dealers, Major Swap Participants and Other Commission Registrants17 CFR Parts 3 and 23

CFTC Announces Jonathan L. Marcus as General Counsel

Commodity Futures Trading Commission Chairman Gary Gensler today announced that Jonathan L. Marcus has been named the agency’s General Counsel. Mr. Marcus has served at the Commission for the past two years as the Deputy General Counsel for Litigation.

CFTC Approves Final Regulations Governing Exemption from Required Clearing for Inter-Affiliate Swaps

The Commodity Futures Trading Commission (CFTC) today issued a final rule to exempt swaps between certain affiliated entities within a corporate group from the clearing requirement under section 2(h)(1)(A) of the Commodity Exchange Act (CEA) and Commission regulations, subject to a number of conditions.

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Relief to Swap Dealers and Major Swap Participants Regarding Certain Recordkeeping Obligations

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued time-limited no-action relief for swap dealers (SDs) and major swap participants (MSPs) concerning certain recordkeeping obligations under Part 23 of the Commission’s Regulations.

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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.

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 Comment Letter

CMC signed on to this comment letter, along with other allied trade associations. This is a letter to the CFTC requesting exemptive relief from clearing and trading requirements for centralized treasury affiliates of non-financial end users.

CFTC Update

CFTC’s Division of Market Oversight Provides Swap Dealers With Swap Data Reporting Relief With Respect To Equity Swaps, Foreign Exchange Swaps and Other Commodity Swaps, Due to Effects of Hurricane Sandy

 

In order to account for certain disruptions to the testing of swap data reporting systems caused by Hurricane Sandy, the Division of Market Oversight of the Commodity Futures Trading Commission (CFTC) today announced the issuance of a letter providing swap dealers with time-limited no-action relief from swap data reporting obligations with respect to equity swaps, foreign exchange swaps and other commodity swaps.

CFTC Approves Application of Chicago Mercantile Exchange, Inc. for Provisional Registration as a Swap Data Repository

CFTC Approves Application of Chicago Mercantile Exchange, Inc. for Provisional Registration as a Swap Data Repository

The U.S. Commodity Futures Trading Commission (CFTC) on November 20, 2012, approved the application of Chicago Mercantile Exchange, Inc. for provisional registration as a swap data repository pursuant to section 21 of the Commodity Exchange Act and section 49.3(b) of the Commission’s regulations.