CFTC Staff Letters

The CFTCs Division of Market Oversight has issued an Advisory to remind reportable market participants of their obligation to submit accurate Form 204 reports for wheat, corn, oats, soybeans, soybean oil, and soybean meal on a monthly basis as required under CFTC Regulation 19.01, and to follow the instructions included on Form 204.

Advisory Pertaining to the Effective Date of the Clearing Exemption for Swaps Between Certain Affiliated Entities.

Advisory: Extension for Compliance with Rule 1.73(a)(2)(v)(B) - Screening of Bunched Orders.

Obligation of Futures Commission Merchants, Clearing Members and Foreign Brokers to Report Omnibus Account Information in a Timely Manner as Required by Commission Regulation 17.04(a).

Reporting Block Trade Volume Data Pursuant to Commission Regulation 16.01.

No-Action Relief with Respect to Email as an Accepted Form of Transmitting Form 304 Reports for Call Cotton.

This letter withdraws relief previously granted in staff letters 02-22, 02-90 and 06-20. The previous letters provided “no-action” relief to registered securities broker-dealers and their registered representatives in connection with their offer and sale of certain futures contracts. The Division determined to withdraw the relief on a prospective basis based primarily on consumer protection issues including the uncertain treatment of customer funds in the event of insolvency of a broker.

DCIO received a request for guidance from the Joint Audit Committee concerning FCM regulatory reporting requirements for investments in a money market mutual fund. The fund had announced that its net asset value per share had fallen from $1.00 and that, as permitted by order of the SEC dated September 22, 2008, the fund had suspended redemptions and postponed payments. DCIO advised that until further notice the investments should be reported as of certain dates at the net asset values specified in the letter, and continue to be subject to a 2% deduction when calculating adjusted net capital.