March 28, 2013

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues No-Action Relief for Certain Futures Commission Merchants Concerning Annual Reports of Chief Compliance Officers

Washington, DC — The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter that provides certain futures commission merchants (FCMs) with limited relief surrounding the requirement that chief compliance officers of such FCMs prepare and submit an Annual Report, pursuant to Commission Regulation 3.3.

The relief provided in the no-action letter is applicable to all FCMs that: (1) were registered with the Commission as of June 4, 2012; and (2) are not currently regulated by a U.S. prudential regulator or registered with the U.S. Securities and Exchange Commission (Covered Firms).

The no-action letter enumerates the subjects that must be addressed in the Annual Report of a Covered Firm for the fiscal year that ends on March 31, 2013. The letter also provides relief concerning the certification that a chief compliance officer must execute with respect to the Annual Report.

Last Updated: March 28, 2013