December 14, 2012

CFTC’s Division of Market Oversight Issues No-Action Letter Addressing Timeline for Swap Dealer Compliance with Large Swap Trader Reporting Rules

Washington, DC – The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC) today issued a letter addressing the timeline within which non-clearing member swap dealers must come into compliance with the large swap trader reporting requirements of Part 20 of the CFTC’s regulations.

Part 20 establishes large trader reporting requirements for physical commodity swaps and swaptions. Clearing organizations and clearing members are already required to be in compliance with the reporting requirements of Part 20.

The letter issued by DMO today extends, until March 1, 2013, no-action relief from Part 20 reporting requirements that was granted to non-clearing member swap dealers in CFTC Letter No. 12-04, which was issued by DMO on July 17, 2012. The letter also extends, until September 1, 2013, the additional period of reporting relief that was granted by DMO in CFTC Letter No. 12-04 to non-clearing member swap dealers that satisfy the conditions of Section 20.10(e) of the CFTC’s regulations.

Last Updated: December 14, 2012