CFTC Staff Letters

Extension of time-limited no-action relief for Korea Exchange, Inc. with regard to Section 5b(a) of the Commodity Exchange Act and implementing regulations thereunder.

Extension of time-limited no-action relief for Clearing Corporation of India Ltd. with regard to Section 5b(a) of the Commodity Exchange Act and implementing regulations thereunder.

Extension of time-limited no-action relief for ASX Clear (Futures) Pty Limited with regard to Section 5b(a) of the Commodity Exchange Act and implementing regulations thereunder.

The Division of Swap Dealer and Intermediary Oversight and the Division of Market Oversight issued time-limited no-action relief with respect to some of the recordkeeping requirements under Regulation 1.35(a). The letter extends and expands the relief provided in CFTC Staff Letter No. 14-60 by relieving CTAs from the requirement to record oral communications under Regulation 1.35(a). The letter also provides relief for market participants from the requirement to link records of oral and written communications that lead to the execution of a transaction with any particular transaction.

DSIO granted no action relief with respect to registration as a CPO for an entity acting as a directed trustee with respect to a commodity pool.

The Division of Swap Dealer and Intermediary Oversight granted exemptive relief from the financial statement requirements of Commission regulations 4.22 and the disclosure requirements of Commission regulation 4.24(s) to the commodity pool operator (the “CPO”) of an insurance-linked securitization vehicle (the “ILS Vehicle”) with respect to the ILS Vehicle; provided, that the CPO satisfies certain conditions for relief relating to the management of the ILS Vehicle, the disclosure of additional information concerning the ILS Vehicle, and the calculation of the net asset value of the ILS Vehicle.

No-action letter again modifying the terms of previous No-Action Letter 13-22 for treasury affiliates entering into swaps on behalf of non-financial end-user affiliates that could otherwise elect the exception in section 2(h)(7) of the CEA and section 50.50 of the Commission’s regulations.

Consistent with CFTC Staff Letter 12-37, the Division of Swap Dealer and Intermediary Oversight provided no-action relief from commodity trading advisor registration to family offices in connection with their advisory services given to family clients, provided that a family office claiming relief maintains compliance with 17 CFR 275.202(a)(11)(G)-1 and files a notice with the Division.

DSIO granted exemptive relief to the operators of funds to provide monthly account statements to participants within 45 days of the month end rather than provide quarterly account statements within 30 days of the quarter end.

CFTC’s Division of Market Oversight issues time-limited no-action relief from certain requirements of Part 45 and Part 46 of the Commission’s regulations, for Certain Swap Dealers and Major Swap Participants established under the laws of Australia, Canada, the European Union, Japan and Switzerland