DSIO granted no action relief with respect to registration as a CPO for an entity acting as a directed trustee with respect to a commodity pool.

The Division of Swap Dealer and Intermediary Oversight granted exemptive relief from the financial statement requirements of Commission regulations 4.22 and the disclosure requirements of Commission regulation 4.24(s) to the commodity pool operator (the “CPO”) of an insurance-linked securitization vehicle (the “ILS Vehicle”) with respect to the ILS Vehicle; provided, that the CPO satisfies certain conditions for relief relating to the management of the ILS Vehicle, the disclosure of additional information concerning the ILS Vehicle, and the calculation of the net asset value of the ILS Vehi

Consistent with CFTC Staff Letter 12-37, the Division of Swap Dealer and Intermediary Oversight provided no-action relief from commodity trading advisor registration to family offices in connection with their advisory services given to family clients, provided that a family office claiming relief maintains compliance with 17 CFR 275.202(a)(11)(G)-1 and files a notice with the Division.

DSIO granted exemptive relief to the operators of funds to provide monthly account statements to participants within 45 days of the month end rather than provide quarterly account statements within 30 days of the quarter end.

Extension of No-Action Relief: Transaction-Level Requirements for Non-U.S. Swap Dealers

The CPO of a commodity pool operating pursuant to an exemption under Regulation 4.7 requested exemptive relief from the requirement in Regulation 4.7(b)(3) and 4.22(d) that the financial statements in the pools annual report be audited. The CPO submitted waivers from all of the pools participants evidencing their consent to the relief requested. DSIO granted relief pursuant to Commission regulations 140.93 and 4.12(a) conditioned upon the filing and distribution of an uncertified Annual Report for fiscal year 2013 that otherwise complies with the provisions of Regulation 4.7(b)(3).

No-action relief and interpretation of certain aspects of Regulation 30.7 with respect to the holding of customer funds in accounts located outside of the U.S.

The Division of Swap Dealer and Intermediary Oversight issued a “no-action” position from compliance with certain requirements of Regulation 1.57(a)(1), such that a guaranteed introducing broker could open and carry customer accounts with other than its guaranteeing futures commission merchant. Among other things, customers would be eligible contract participants and it was anticipated that the ultimate owner of the guaranteeing futures commission merchant would be the ultimate owner of an interest in the guaranteed introducing broker.

Staff interpretation regarding notification of the right to segregation of initial margin in uncleared swap transactions and quarterly reporting under Commission Regulations 23.701 and 23.704

Extension of no-action relief from compliance with certain conditions associated with the receipt of customer funds by FCMs.