The Division previously provided no-action relief for certain swaps required to be traded on a swap execution facility (SEF) or designated contract market (DCM) to the extent that those swaps were part of a package transaction. The Division has determined that further relief is appropriate to enable market participants to fully comply with the trade execution requirement with respect to swap components of certain categories of package transactions.

Exemption from requirement that a pool’s financial statement be audited by independent public accountants.

Conditional no-action relief with respect to swaps trading on certain financial markets that are licensed in Australia and overseen by the Australian Securities & Investments Commission (ASIC)

The Division provided exemptive relief from certain provisions of Regulations 4.7(b) and 4.13(a)(3) that, among other things, restrict marketing to the public. This letter harmonizes these Commission regulations with Rule 506(c) of Regulation D and Rule 144A, which, as amended by the Securities and Exchange Commission pursuant to the Jumpstart Our Business Startups Act of 2012, permit general solicitation or general advertising, subject to specific conditions.

Subject to specific conditions, the Division of Swap Dealer and Intermediary Oversight granted the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association no-action relief, such that either entity may be exempt from registration as a commodity pool operator pursuant to Regulation 4.13(a)(3) with respect to its operation of a mortgage credit risk sharing initiative described therein.

Time-limited no-action relief for the Clearing Corporation of India Ltd. with regard to Section 5b(a) of the Commodity Exchange Act and implementing regulations thereunder.

Extension of conditional time-limited no-action relief for Yieldbroker Pty Limited with regard to Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1) until November 15, 2014.

The Division of Clearing and Risk issued a letter stating that it will not recommend that the Commission take enforcement action against ASX Clear (Futures) Pty Limited for failure to register as a derivatives clearing organization pursuant to Section 5b(a) of the Commodity Exchange Act in connection with the clearing of certain interest rate swaps.

Conditional Time-Limited No-Action Relief for Yieldbroker Pty Ltd with Regard to Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1).

The Division of Clearing and Risk issued a letter stating that it will not recommend that the Commission take enforcement action against Singapore Exchange Derivatives Clearing Limited (SGX-DC) clearing members for failing to comply with the Commodity Exchange Act Section 4d(f)(1) registration requirements in carrying existing positions and accepting for clearing offsetting positions in certain commodity swaps for U.S. customers; or SGX-DC for engaging in activities related to its clearing members carrying and accepting for clearing such positions for U.S. customers.