CFTC Staff Letters

Extension of time-limited no-action relief for Shanghai Clearing House with regard to the requirement to register as a DCO in order to clear swaps for US persons.

Guidance clarifying the expenses that must be included and those that can be reasonably excluded in a DCM’s or SEF’s calculation of projected operating costs.

Exemptive Relief from the Main Business Office Requirement in Commission Regulations 4.33 and 4.7(c)(2) to allow commodity trading advisors (CTAs) to use Third-party Recordkeepers.

Exemptive relief granted to a CPO from filing with NFA and distributing to NFA annual reports for certain subsidiary pools, subject to certain conditions.

Extension of time limited no-action position for swap dealers complying with European Union uncleared swap margin requirements.

Grant of no-action relief for Eurex Clearing AG with regard to Regulation 39.19(c)(3)(ii).

Exemptive relief from the requirement in Commission Regulations 4.7(b)(3) and 4.22(c) to provide an audited Annual Report and Financial Statements when liquidating a commodity pool, if the pool instead provides a combined 13 month Annual Report and Financial Statements.

The Division of Swap Dealer and Intermediary Oversight (DSIO) granted no-action relief from commodity pool operator (CPO) registration to two entities operating collective investment vehicles to manage the assets belonging to a university, its campuses, affiliated schools, and other supporting organizations, subject to certain conditions outlined in the letter.

No-Action Relief Regarding the Application of Commission Regulation 75.14(a) to the Provision of Clearing Services by an FCM to a Covered Fund.

The Division of Market Oversight is issuing a no-action letter that extends Letter No. 16-25 and provides relief from: (1) the requirement that a SEF obtain documents that are incorporated by reference in a confirmation issued under Commission Regulation 37.6(b) prior to issuing the confirmation; (2) the requirement that a SEF maintain such documents as records; and (3) the requirement that a SEF report terms contained in such documents that are confirmation data.