Staff No-Action Relief: Preservation of the Regulatory Status Quo with Respect to Certain CEA Provisions That May Apply to RTOs, ISOs, and/or Their Participants. (Extended by 13-05)

No-Action Relief from Rescission of Regulation 4.13(a)(4) and Amendments to Regulation 4.5.

The Division of Swap Dealer and Intermediary Oversight issued an interpretation regarding the time period for which past performance is required to be disclosed by persons required to register as CTAs because they engage in off-exchange retail foreign currency transactions (“retail forex”). Such persons (“Forex CTAs”) are required to disclose performance information for the period beginning October 18, 2010, the date upon which the Commission’s regulations governing retail forex became effective.

DCR, DSIO and DMO issued a no-action letter that modifies the temporary, no-action relief previously issued by DCIO and DMO from certain self-effectuating provisions of the Dodd-Frank Act and the CEA that took effect on July 16, 2011, but that require further definition and may not be eligible for the exemptive relief provided by an order issued by the Commission on July 14, 2011 pursuant to section 4(c) of the CEA (July 14 Order).

The Division of Clearing and Intermediary Oversight granted exemptive relief from certain of the Part 4 regulations to the registered CPO of a commodity pool, whose shares the CPO intended to publicly offer and to list for trading on a national securities exchange. As is discussed in the letter, this relief was in the nature of substituted compliance with those regulations.