August 13, 2015

CFTC Staff Issues Extension to Time-Limited No-Action Letter on the Applicability of Transaction-Level Requirements in Certain Cross-Border Situations

Washington, DC — The U.S. Commodity Futures Trading Commission’s (CFTC or Commission) Divisions of Swap Dealer and Intermediary Oversight (DSIO), Clearing and Risk, and Market Oversight (Divisions) today issued a time-limited no-action letter that extends relief to swap dealers (SDs) registered with the Commission that are established under the laws of jurisdictions other than the United States (Non-U.S. SDs) from certain transaction-level requirements under the Commodity Exchange Act.

Subject to the limitations stated in the letter, the relief is until the earlier of September 30, 2016 or the effective date of any Commission action with respect to matters addressed by a DSIO Advisory issued November 14, 2013 (DSIO Advisory). The DSIO Advisory was issued in response to inquiries from swap market participants regarding the applicability of the Commission’s transaction-level requirements in certain situations.

Last Updated: August 13, 2015