CFTC Staff Letters

DMO is issuing a no-action letter which provides that, subject to certain conditions the Division will not recommend enforcement action against a swap execution facility which does not capture post-execution allocation information in its audit trail or conduct audit trail reviews of post-execution allocations.

Exemptive Relief from certain Commission Regulation 4.7 reporting obligations as they relate to disclosure to pool participants

CFTC staff issues no-action relief for swap dealers from posting and collecting variation margin when entering into swaps with certain special purpose vehicles in existence prior to March 1, 2017.

Interpretation of the Commodity Exchange Act and Commission regulations regarding the characterization of variation margin payments and all other cash flows for cleared swaps.

No-action relief granted to an entity from registering as a CPO with respect to a commodity pool; provided, that it delegates its CPO responsibilities to a registered CPO, subject to certain conditions.

Subject to the conditions outlined in the letter, the Division of Swap Dealer and Intermediary Oversight (DSIO) granted no-action relief from commodity pool operator (CPO) and commodity trading advisor (CTA) registration to a group of five private universities with respect to the commingled accounts and collective investment vehicles they operate to manage assets belonging to their endowments, graduate and professional schools, and other university supporting organizations, as well as multiple charitable planned giving account structures offered to alumni and other donors.

No-action relief to an entity for its failure to register as CPO or CTA with respect to its pool holding swaps to hedge commodity market price risk involved in the pool’s ownership of interests in crude oil and natural gas producing properties.

No-action relief granted to two entities from registering as CPOs with respect to a commodity pool; provided, that they delegate their CPO responsibilities to a registered CPO, subject to certain conditions.

No-action relief granted to an entity from registering as a CPO with respect to a commodity pool; provided, that it delegates its CPO responsibilities to a registered CPO, subject to certain conditions.

Conditional time-limited no-action relief from filing certain Ownership and Control Reports (OCR) required by Parts 17, 18 and 20 of the Commission’s Regulations.