March 27, 2015

CFTC Staff Issues No-Action Position Regarding Timing of the CCO Annual Report

Washington, DC — The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight (Division) today issued a no-action letter to futures commission merchants, swap dealers and major swap participants (collectively, registrants) that provides relief from certain requirements under Regulation 3.3(f), which requires registrants to give the Commission their CCO annual report not more than 60 days after the end of their fiscal year.

The letter grants registrants an additional 30 days to provide their annual reports to the Commission. The letter further states that the relief will remain in effect until the adoption of a rule or rule amendment that modifies the timing requirements of Regulation 3.3(f)(2), and that the Division retains the authority to condition further, modify, suspend, terminate, or otherwise restrict the terms of the no-action relief provided, in its discretion.

Last Updated: March 27, 2015