September 28, 2015

CFTC’s Division of Market Oversight Issues Additional Time-Limited No-Action Relief from Electronic Reporting Requirements in the OCR Final Rule

Washington, DC — The U.S. Commodity Futures Trading Commission’s (Commission) Division of Market Oversight (DMO) today issued a no-action letter (CFTC Letter No. 15-52) that provides additional time for reporting parties to comply with certain reporting requirements of the ownership and control final rule (OCR Final Rule).

The OCR Final Rule requires the electronic submission of trader identification and market participant data on new and updated reporting forms. These reporting forms collect new information to better identify participants in futures and swaps markets. CFTC Letter 15-52 extends certain relief previously provided under CFTC Letter No. 15-03, a no-action letter issued by DMO on February 10, 2015.

DMO is issuing this no-action relief to provide reporting parties additional time to improve the reliability and consistency of the OCR data provided to the Commission. CFTC Letter 15-52 provides time-limited no-action relief for reporting parties from the requirement to file the forms electronically and provide certain additional information required by the OCR Final Rule. CFTC Letter 15-52 extends relief to dates ranging from April 27, 2016 to February 13, 2017.

The relief is subject to certain terms and conditions, including the condition that reporting parties continue to report via the legacy, non-automated submission methods until the expiration of the relief granted. Reporting parties are also expected to cooperate with staff of the Commission’s Office of Data and Technology (ODT) to provide test submissions in the form and manner requested by ODT.

Detailed information on test submissions will be provided during the period of relief on the Commission’s website.

Last Updated: September 28, 2015