No-Action Relief with Respect to Certain Commodity Exchange Act Provisions That May Apply to Southwest Power Pool, Inc. and/or Its Participants

The Division of Swap Dealer and Intermediary Oversight granted no-action relief to a commodity pool operator (“CPO”) of three funds (a publicly-traded Parent, a Subsidiary that is approximately 99% owned by the Parent and approximately 1% owned by fund insiders, and a Trading Vehicle wholly-owned by the Subsidiary) from: (1) Filing with the National Futures Association (“NFA”) and distributing to the insider participants of the Subsidiary an audited annual report of the Subsidiary; (2) Distributing periodic statements of the Subsidiary to the insider participants of the Subsidiary; (3) Fili

Conditional No-Action Relief with respect to Swaps Trading on Certain Multilateral Trading Facilities Overseen by Competent Authorities Designated by European Union Member States

The Division of Swap Dealer and Intermediary Oversight granted no-action relief from the registration requirement of Section 4m(1) of the Commodity Exchange Act to a commodity pool operator (“CPO”) of a pool, the investors of which are the owner of the general partner and CPO of the pool, his family investment vehicle, and his close business associates who were involved in developing the pool’s trading algorithm.

DSIO is issuing conditional no-action relief permitting a provisionally registered swap dealer to satisfy certain of its requirements under Rule 3.3 by reporting to, and interacting with, the “governing body,” rather than the senior officer or board of directors, subject to certain conditions.

DSIO is issuing an extension of a previous no-action letter providing additional time for futures commission merchants (FCMs) to comply with Commission regulations requiring FCMs to obtain acknowledgement letters from certain depositories. DSIO will provide no-action relief until April 30, 2015.

Extension of time to furnish the 2014 annual report to the Commission.

DSIO guidance to chief compliance officers of FCMs, SDs, and MSPs on how to comply with the requirement under Commission Regulation 3.3(e) to prepare an annual report.

Subject to specific conditions, the Division of Swap Dealer and Intermediary Oversight granted the operators of issuers of insurance-linked securities no-action relief, such that an operator may be exempt from registration as a commodity pool operator pursuant to Regulation 4.13(a)(3) with respect to insurance-linked securities transactions in which an issuer engages.

The Division of Swap Dealer and Intermediary Oversight and the Division of Market Oversight issued time-limited no-action relief with respect to some of the recordkeeping requirements under Regulation 1.35(a). The letter extends and expands the relief provided in CFTC Staff Letter No. 14-60 by relieving CTAs from the requirement to record oral communications under Regulation 1.35(a). The letter also provides relief for market participants from the requirement to link records of oral and written communications that lead to the execution of a transaction with any particular transaction.