U.S. COMMODITY FUTURES TRADING COMMISSION

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Telephone: (202) 418-5000

Facsimile: (202) 418-5521

Division of

Market Oversight

CFTC Letter No. 16-32

No-Action

April 8, 2016

Division of Market Oversight

Conditional Time-Limited No-Action Relief from 

Certain Ownership and Control (OCR) Data Reporting Requirements 

Under Parts 17, 18 and 20 of the Commission’s Regulations: 

Replaces CFTC No-Action Letter No. 15-52

Allison Lurton

Senior Vice President and General Counsel

The Futures Industry Association

2001 Pennsylvania Avenue NW

Suite 600

Washington, DC 20006

Dear Ms. Lurton:

This letter is in response to FIA’s request dated February 24, 2016 (the “February 2016 FIA 

Letter”), to the Division of Market Oversight (“DMO” or “Division”) of the Commodity Futures 

Trading Commission (“Commission”), on behalf of the members of the Futures Industry 

Association (“FIA”) that are required to submit certain reports under Parts 17, 18 and 20 of the 

Commission’s regulations. In the February 2016 FIA Letter, FIA requested no-action relief from 

certain data reporting requirements of Parts 17, 18 and 20 of the Commission’s regulations that 

were implemented pursuant to the OCR Final Rule (as defined below). 

In response to the February 2016 FIA Letter, the Division is providing additional time-limited 

no-action relief from certain reporting obligations implemented by the Ownership and Control 

(“OCR”) Final Rule (the “OCR Final Rule”).

1

 This no-action letter (the “April 2016 CFTC

 1 Commission, Ownership and Control Reports, Forms 102/102S, 40/40S, and 71; Final Rule, 78 FR 

69178 (November 18, 2013) (hereinafter, “OCR Final Rule”). Terms not otherwise defined in this April

2016 CFTC NAL shall have the meaning assigned to them in the OCR Final Rule or in the Commission’s 

regulations. The Commission adopted the OCR Final Rule in 2013 to enhance its identification of futures 

and swap market participants. 
2

NAL”) replaces a no-action letter with respect to the OCR Final Rule issued by the Division in 

September 2015. The September 2015 no-action letter, CFTC Letter No. 15-52 (the “September

2015 CFTC NAL”), extended the time period for relief from certain reporting obligations under 

the OCR Final Rule.

2

 

In this April 2016 CFTC NAL, the Division is granting two components of no-action relief. The 

first component, described in Section I below, extends no-action relief available under the 

September 2015 CFTC NAL for approximately an additional five months for certain of the OCR 

forms. As a result, the prior relief for New Form 102A, New Form 102B (with respect to DCM 

volume threshold accounts)3 and New Form 102S (which previously expired on April 27, 2016) 

will now extend to September 28, 2016;

4 furthermore, the prior relief for New Form 40/40S and 

New Form 71 (which previously expired on September 28, 2016) will now extend an additional 

two months, to November 17, 2016,

5 in each case subject to certain conditions more fully 

described below. 

The second component, described in Section II below, provides substantive new no-action relief 

for New Form 102A, New Form 102B, and New Form 102S, in each case subject to certain 

conditions more fully described below. With respect to SEF-related reporting on New Form 

102B, Division staff will use the period of relief to consider whether to recommend that the 

Commission pursue certain changes to the OCR Final Rule as it pertains to SEFs.

The no-action relief provided by this April 2016 CFTC NAL is summarized on the PowerPoint 

chart provided by the Division alongside this no-action letter. Reporting Parties may find it 

helpful to examine the chart when reviewing this no-action letter. 

1. Cooperation of Customers and Counterparties 

The additional no-action relief described in this letter may be relied upon by all parties that are 

obligated to report pursuant to the OCR Final Rule on any of New Form 102A, New Form 102B, 

New Form 102S, New Form 40/40S and New Form 71 (collectively, “Reporting Parties”), as 

such terms are defined below. As discussed in Section I(F) below, the Division advises 

Reporting Parties to check the Commission’s “Ownership and Control Reporting (OCR)”

homepage on a regular basis during this period of no-action relief to review updated testing 

requirements.6

 2 The September 2015 CFTC NAL was issued in response to a request by the FIA on behalf of its 

members that are required to submit certain reports under Parts 15, 17, 18 and 20 of the Commission’s 

regulations. The September 2015 CFTC NAL (Sept. 28, 2015) is available at: 

http://www.cftc.gov/idc/groups/public/@lrlettergeneral/documents/letter/15-52.pdf

3 As used herein, “DCM volume threshold accounts” means volume threshold accounts on or subject to 

the rules of a reporting market that is a board of trade designated as a contract market under section 5 of 

the Commodity Exchange Act (the “Act”).

4 At 11:59 p.m. Eastern Time. 

5 At 11:59 p.m. Eastern Time.

6 See http://www.cftc.gov/Forms/OCR
3

Reporting Parties must obtain from their customers or counterparties the information necessary 

to submit the OCR forms described below. The cooperation of such customers and 

counterparties is essential to the implementation of the OCR Final Rule. The Division expects 

such persons to promptly provide responsive OCR data to Reporting Parties upon the request of 

Reporting Parties. The no-action relief described herein may not be relied upon by customers or 

counterparties of Reporting Parties. Reporting Parties may deem it advisable to furnish either 

this April 2016 CFTC NAL, or a previously issued Division advisory regarding OCR reporting,7

to their customers or counterparties as a tool to ensure that such customers and counterparties 

provide the timely cooperation needed for Reporting Parties to comply with the OCR Final Rule. 

As discussed in Section II(A) below, Form 102A Reporting Parties may indicate to the 

Commission that a client will not provide the name and physical address of a trading account 

controller reportable on a Form 102A (or that the Reporting Party does not believe that the 

information provided by a client meets the requirements of the OCR Final Rule) during the 

period of no-action relief. Furthermore, as discussed in Section II(B) below, Form 102B 

Reporting Parties may indicate to the Commission that a client will not provide the name and 

physical address of a volume threshold account controller reportable on a Form 102B (or that the 

Reporting Party does not believe that the information provided by a client meets the 

requirements of the OCR Final Rule) during the period of no-action relief. As discussed in 

Section II(G)(2) below, Reporting Parties taking advantage of such relief during the period of 

no-action relief must provide to DMO, upon request, a list of clients (including their phone 

number and address) that have not provided such information to such Reporting Parties. 

2. Background; OCR Final Rule8

The OCR Final Rule requires the electronic submission of trader identification and market 

participant data on updated Form 102 (“New Form 102”) and Form 40 (“New Form 40”), and on 

entirely new Form 71 (“New Form 71”). New Form 102 is subdivided into three parts (“New 

Form 102A,” “New Form 102B,” and “New Form 102S”).9

 New Form 102B is an entirely new 

form, introduced by the OCR Final Rule. Among other fields, the new and updated forms 

require the reporting of the following information:

• New Form 102A: a position-based reporting form, which requires the reporting of both 

special accounts and the trading accounts that comprise special accounts.

 7 See CFTC Staff Advisory No. 15-14 (Mar. 23, 2015), available at: 

http://www.cftc.gov/idc/groups/public/@lrlettergeneral/documents/letter/15-14.pdf

8 Important information related to the implementation of the OCR Final Rule, including the Technical 

Guidance Document discussed herein, is available on the Commission’s “Ownership and Control 

Reporting (OCR)” homepage at: http://www.cftc.gov/Forms/OCR

9 Forms 102 and 40 (including 102S and 40S Filings) as they existed prior to the OCR Final Rule are 

referred to herein as “Legacy” forms and filings—i.e., Legacy Form 102, Legacy 102S Filing, Legacy 

Form 40, and Legacy 40S Filing.
4

• New Form 102B: requires the reporting of trading accounts that exceed a stated volume 

threshold during a single trading day (“volume threshold accounts”), regardless of 

whether these positions remain open at the end of the day.

• New Form 102S: facilitates the electronic submission of 102S filings, and requires 

position-based reporting of consolidated accounts in the swaps market.

• New Form 40/40S: sent by the Commission to reporting traders via special call to collect 

identifying information regarding traders.

• New Form 71: sent by the Commission via special call to collect additional information 

on omnibus volume threshold accounts identified on New Form 102B.

3. February 2016 FIA Letter; April 2016 CFTC NAL

In the February 2016 FIA Letter, FIA represented that FIA and its members have taken a number 

of steps to come into compliance with the OCR Final Rule, including: participating in bi-weekly 

Commission calls to discuss OCR implementation; developing internal firm software to facilitate 

the collection and reporting of OCR data; and engaging in a broad client outreach program to 

educate customers and counterparties about the OCR Rule and its enhanced reporting 

requirements. FIA stated that notwithstanding these efforts, “reporting entities will not be ready 

to comply with the OCR Rule when the Current Relief [as provided in the September 2015 

CFTC NAL] expires.” 

Based on the representations provided in the February 2016 FIA Letter, and to increase the 

reliability and consistency of the OCR data, the Division believes that some additional extension 

of the time-limited no-action relief now in place under the September 2015 CFTC NAL is 

warranted. The Division is therefore providing additional relief to allow Reporting Parties to 

come into compliance with their reporting obligations.

I. Summary of Upcoming No-Action Relief for Additional Testing and Compliance. 

This no-action letter replaces the September 2015 CFTC NAL. The Division believes that the 

following additional time-limited no-action relief is warranted, for testing and other preparation 

for the implementation of the relief described in Section II below:

Date hereof until September 28, 2016:

10

• Relief from electronically reporting via New Form 102A (see Section (A) below); 

• Relief from electronically reporting DCM volume threshold accounts via New Form 

102B (see Section (B) below).

• Relief from electronically reporting via New Form 102S (see Section (D) below); and

Date hereof until November 17, 2016:

11

 10 At 11:59 p.m. Eastern Time.
5

• Relief from electronically reporting via New Form 40/40S and New Form 71 (see 

Section (E) below).

As further described below, among other conditions, the no-action relief described in this Section 

I is subject to Reporting Parties continuing to report to the Commission via Legacy Form 102, 

the Legacy 102S Filing, Legacy Form 40 and the Legacy 40S Filing in accordance with the 

reporting requirements in place prior to the implementation of the OCR Final Rule. 

The remainder of this Section I describes the time-limited no-action relief described above in 

more detail. 

A. Conditional No-action Relief from Submitting Information via New Form 102A 

Until September 28, 201612

Summary of Relief Granted: The Division is providing relief from electronically reporting via 

New Form 102A until September 28, 2016, provided that Reporting Parties comply with the 

reporting practice that was in place prior to the implementation of the OCR Final Rule, by 

reporting via Legacy Form 102 (as such term is defined below) until September 28, 2016.

The Division believes that time-limited no-action relief is warranted for certain reporting 

obligations under Part 17 of the Commission’s regulations that were implemented by the OCR 

Final Rule. Subject to the conditions below, the Division will not recommend that the 

Commission commence an enforcement action against a Reporting Party for failure to report via 

New Form 102A, as required by Part 17,13 until September 28, 2016. 

The no-action relief described in this Section (A) is subject to Reporting Parties reporting via 

Legacy Form 102 until September 28, 2016. Such reporting must be consistent in all respects 

with the time, form and manner of the Legacy Form 102 reporting practice. In particular, the noaction relief described in this Section (A) is subject to Reporting Parties reporting via Legacy 

Form 102 in accordance with the following conditions and Appendix A hereto:

14

• Report via Legacy Form 102 

o As used herein, “Legacy Form 102” refers to the Form 102 required prior to the 

implementation of the OCR Final Rule, which is available on the Commission’s 

 11 At 11:59 p.m. Eastern Time.

12 At 11:59 p.m. Eastern Time.

13 See 17 CFR §§ 17.01(a), 17.01(d), 17.01(e) and 17.02(b). 

14 When submitting either Legacy Form 102 or New Form 102A, Reporting Parties should report special 

accounts pursuant to Commission regulation § 17.00 and on the applicable 102 form on a disaggregated 

basis, if the parties have been so instructed by the Commission or its designee. All Reporting Parties 

should provide position reporting on the applicable 102 form based on control of a special account. As an 

example, if a special account is controlled by one Reporting Party but owned by another, such account 

should be reported only by the Reporting Party that controls the special account. See discussion in OCR 

Final Rule, 78 FR at 69184.
6

website.15 See Appendix A hereto for additional instructions for completing 

Legacy Form 102 in accordance with the legacy reporting practice.

o Within three business days of the first day that a special account is reported to the 

Commission pursuant to § 17.00(a) by a futures commission merchant, clearing 

member, or foreign broker, in accordance with instructions by the Commission or 

its designee, such party must submit Legacy Form 102 to the Commission in 

accordance with instructions by the Commission or its designee, showing the 

information in paragraphs (a) through (f) of Appendix A hereto. 

o On call by the Commission or its designee, a futures commission merchant, 

clearing member, or foreign broker must identify the type of special account 

specified by items 1(a), 1(b), or 1(c) of Legacy Form 102, and the name and 

location of the person to be identified in item 1(d) on Legacy Form 102, and 

submit such information by facsimile or telephone, in accordance with 

instructions by the Commission or its designee, on the same day that the special 

account in question is first reported to the Commission by such party. 

o Legacy Form 102 updates. If, at the time an account is in special account status 

and a Legacy Form 102 filed by a futures commission merchant, clearing 

member, or foreign broker is then no longer accurate because there has been a 

change in the information required under paragraph (b) of Appendix A to this noaction letter since the previous filing, the futures commission merchant, clearing 

member, or foreign broker must file an updated Legacy Form 102 with the 

Commission within three business days after such change occurs. 

o Exclusively self-cleared contracts. Unless determined otherwise by the 

Commission, reporting markets that list exclusively self-cleared contracts must 

submit and update Legacy Form 102, as the requirement to submit and update 

Legacy Form 102 applies to trading in such contracts by all clearing members, on 

behalf of all clearing members. 

o The Legacy Form 102 reporting practice described above and on Appendix A is 

referred to herein as the “Legacy Form 102 reporting practice.”

The no-action relief described in this Section (A) is also subject to Reporting Parties complying 

with the electronic reporting testing condition set out in Section (F) below.

B. Conditional No-action Relief from Submitting Information Regarding DCM

Volume Threshold Accounts via New Form 102B Until September 28, 201616

Summary of Relief Granted: The Division is providing relief from electronically reporting DCM 

volume threshold accounts via New Form 102B until September 28, 2016, provided that 

Reporting Parties comply with the reporting practice that was in place prior to the 

 15 See the link below to the Commission’s website for a copy of Legacy Form 102: 

http://www.cftc.gov/Forms/ssLINK/cftcform102

16 At 11:59 p.m. Eastern Time.
7

implementation of the OCR Final Rule, by reporting via Legacy Form 102 and the Legacy 102S 

Filing until September 28, 2016.

17

The Division believes that time-limited no-action relief is warranted for certain reporting 

obligations under Part 17 of the Commission’s regulations that were implemented by the OCR 

Final Rule. Subject to the conditions in Sections (A) (102A Submission), (D) (102S 

Submission), and (F) (Testing Requirements), the Division will not recommend that the 

Commission commence an enforcement action against a Reporting Party for failure to report 

DCM volume threshold accounts via New Form 102B, as required by Part 17, until September 

28, 2016.

18 

C. Conditional No-action Relief from Submitting Information Regarding SEF Volume 

Threshold Accounts via New Form 102B 

See Section II(E) below.

D. Conditional No-action Relief from Submitting Information via New Form 102S 

Until September 28, 201619

Summary of Relief Granted: The Division is providing relief from electronically reporting via 

New Form 102S until September 28, 2016, provided that Reporting Parties comply with the 

reporting practice that was in place prior to the implementation of the OCR Final Rule, by 

reporting via the Legacy 102S Filing (as such term is defined below) until September 28, 2016.

The Division believes that time-limited no-action relief is warranted for certain reporting 

obligations under Part 20 of the Commission’s regulations that were implemented by the OCR 

Final Rule. Subject to the conditions below, the Division will not recommend that the 

Commission commence an enforcement action against a Reporting Party for failure to report via 

New Form 102S, as required by Part 20, 20 until September 28, 2016. 

The no-action relief described in this Section (D) is subject to Reporting Parties reporting via the 

Legacy 102S Filing until September 28, 2016. Such reporting must be consistent in all respects 

with the time, form and manner of the Legacy 102S reporting practice. In particular, the no-

 17 As noted in Section (A) above and (D) below, the transition from Legacy Form 102 and the Legacy 

Form 102S filing to New Form 102A and New Form 102S will occur at 11:59 p.m. Eastern Time on 

September 28, 2016.

18 The reporting requirements with respect to New Form 102B were implemented by the OCR Final Rule, 

and arise under regulations §§ 17.01(b), 17.01(d), 17.01(e) and 17.02(c). 17 CFR §§ 17.01(b), 17.01(d), 

17.01(e) and 17.02(c). As noted above, New Form 102B is an entirely new form introduced by the OCR 

Final Rule, and as a result there is no legacy Form 102B reporting method. 

19 At 11:59 p.m. Eastern Time.

20 See 17 CFR §§ 20.5(a)(1), 20.5(a)(2), 20.5(a)(4) and 20.5(a)(5).
8

action relief described in this Section (D) is subject to Reporting Parties reporting via the Legacy 

102S Filing in accordance with the following conditions:

• Report via Legacy 102S Filings 

o Within three days following the first day that a counterparty consolidated account 

first becomes reportable, or at such time as instructed by the Commission upon 

special call, a reporting entity21 must submit a 102S filing, which must consist of 

the name, address, and contact information of the counterparty and a brief 

description of the nature of such person’s paired swaps and swaptions market 

activity (the “Legacy 102S Filing”).22

o A reporting entity may submit a Legacy 102S Filing only once for each 

counterparty, even if such persons at various times have multiple reportable 

positions in the same or different paired swaps or swaptions. However, reporting 

entities must update a Legacy 102S Filing if the information provided is no longer 

accurate. 

o The 102S reporting practice described above is referred to herein as the “Legacy 

102S reporting practice.”

The no-action relief described in this Section (D) is also subject to Reporting Parties complying 

with the electronic reporting testing condition set out in Section (F) below. Furthermore, 

Reporting Parties submitting New Form 102S during the testing period are expected to provide, 

in addition to the data fields required on New Form 102S, the name, address, and contact 

information of the reportable counterparty. The Commission’s Office of Data and Technology 

(“ODT”) staff will provide additional information on the Commission’s “Ownership and Control 

Reporting (OCR)” homepage regarding the time and manner for reporting such counterparty 

information during the testing period for New Form 102S. 

E. Conditional No-action Relief from Submitting Information via New Form 40/40S 

and New Form 71 Until November 17, 201623

Summary of Relief Granted: The Division is providing relief from electronically reporting via 

New Form 40/40S and New Form 71 until November 17, 2016,

24 provided that Reporting Parties 

comply with the Form 40/40S reporting practice that was in place prior to the implementation of 

 21 See § 20.1 of the Commission’s regulations for the definition of “reporting entity.” 17 CFR § 20.1.

22 Reporting Parties should submit a Legacy 102S Filing in accordance with the specifications set forth in 

the Large Trader Reporting for Physical Commodity Swaps: Division of Market Oversight Guidebook for 

Part 20 Reports (as amended from time to time, the “102S Guidebook”). The current version of the 102S 

Guidebook is available at the link below:

http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/ltrguidebook053112.pdf

23 At 11:59 p.m. Eastern Time.

24 At 11:59 p.m. Eastern Time.
9

the OCR Final Rule, by reporting via Legacy Form 40 and the Legacy 40S Filing (as such terms 

are defined below) until November 17, 2016.

25

The Division believes that time-limited no-action relief is warranted for certain additional 

reporting obligations under Parts 17 and 18 of the Commission’s regulations that were 

implemented by the OCR Final Rule. Subject to the conditions below, the Division will not 

recommend that the Commission commence an enforcement action against a Reporting Trader26

for failure to report via New Form 40, as required by Part 18. In addition, the Division will not 

recommend that the Commission commence an enforcement action against a Reporting Party for 

failure to report via New Form 71, as required by Part 17.27 The no-action relief with respect to 

New Form 40 and New Form 71 described in this paragraph ends in each case on November 17, 

2016.

28 

The no-action relief described above with respect to New Form 40 is subject to Reporting 

Traders reporting via Legacy Form 40 until November 17, 2016.

29 Such reporting must be 

consistent in all respects with the time, form and manner of the Legacy Form 40 reporting 

practice. In particular, this no-action relief is subject to Reporting Traders reporting via Legacy 

Form 40 in accordance with the following condition:

• Report via Legacy Form 40 

o As used herein, “Legacy Form 40” refers to the Form 40 required prior to the 

implementation of the OCR Final Rule, which is available on the Commission’s 

website.30 See Appendix B hereto for additional instructions for completing 

Legacy Form 40 in accordance with the legacy reporting practice.

o Every trader who holds or controls a reportable futures and option position must, 

after a special call upon such trader by the Commission or its designee, file with 

the Commission a “Statement of Reporting Trader” on Legacy Form 40, at such 

time and place as directed in the call. 

o The Legacy Form 40 reporting practice described above and on Appendix B is 

referred to herein as the “Legacy Form 40 reporting practice.”

 25 At 11:59 p.m. Eastern Time.

26 As used herein, “Reporting Traders” means parties that are obligated to report pursuant to the OCR 

Final Rule on New Form 40/40S. See regulations §§18.04 and 20.5. 17 CFR §§ 18.04 and 20.5.

27 The reporting requirements with respect to New Form 40 and New Form 71 were implemented by the 

OCR Final Rule, and arise under regulations §§ 18.04 (New Form 40), 17.01(c), and 17.01(e) (New Form 

71). 17 CFR §§ 18.04, 17.01(c), and 17.01(e). As noted above, New Form 71 is an entirely new form 

introduced by the OCR Final Rule, and as a result there is no legacy Form 71 reporting method.

28 At 11:59 p.m. Eastern Time.

29 At 11:59 p.m. Eastern Time.

30 See the link below to the Commission’s website for a copy of Legacy Form 40: 

http://www.cftc.gov/Forms/ssLINK/cftcform40
10

The no-action relief described in this Section (E) is also subject to Reporting Parties complying 

with the electronic reporting testing condition set out in Section (F) below.

For the avoidance of doubt, the no-action relief and conditions described in this Section (E) with 

respect to New Form 40 also apply to the obligation to submit New Form 40S pursuant to 

regulation § 20.5(b).31 As a result, all references in this Section (E) to New Form 40 and Legacy 

Form 40, including the no-action relief and conditions described in this Section (E), shall apply 

equally to New Form 40S and the legacy 40S filing (the “Legacy 40S Filing”) required by 

regulation § 20.5(b). The reporting practice by which parties submit the Legacy 40S Filing in 

accordance with regulation § 20.5(b) is referred to herein as the “Legacy 40S reporting practice.”

F. Condition of Relief; Testing of Electronic Reporting Methods

Between the date of this April 2016 CFTC NAL and the implementation of electronic reporting 

on the dates described herein, Reporting Parties are expected to cooperate with staff of the 

Commission’s Office of Data and Technology (ODT) as requested to test and implement any 

information technology standards or systems associated with the OCR Final Rule as 

contemplated in that rulemaking.32 During this testing period, Reporting Parties are expected to 

provide “Production Grade” test data33 and any other form filings requested by ODT staff,34 in 

the form and manner described on the Commission’s “Ownership and Control Reporting (OCR)” 

homepage.

35 In addition, Reporting Parties are expected to provide status reports on their 

implementation efforts upon request by ODT or DMO. The Division advises Reporting Parties 

to check the OCR homepage on a regular basis to review testing requirements. 

 31 17 CFR § 20.5(b).

32 OCR Final Rule at 69188-69189.

33 “Production Grade” data means (a) in the context of New Form 102A testing, data that, to the extent it 

overlaps, is identical to data submitted pursuant to Part 17 of the Commission’s regulations (Large Trader 

data and Trader Capture Report data); (b) in the context of New Form 102S testing, data that, to the extent 

it overlaps, is identical to data submitted pursuant to Part 20 of the Commission’s regulations 

(Commodity Swaps data); and (c) in the context of New Form 102B testing, data that is equivalent to the 

data that the Commission will receive following the implementation of electronic reporting on New Form 

102B. Production Grade data will be used by the Commission only for testing purposes.

34 The Commission will protect proprietary information consistent with the Freedom of Information Act, 

5 U.S.C. 552, and 17 CFR part 145, “Commission Records and Information.” In addition, § 8(a)(1) of the 

Commodity Exchange Act, 7 U.S.C. §12(a)(1), strictly prohibits the Commission, unless specifically 

authorized by the Act, from making public “data and information that would separately disclose the 

business transactions or market positions of any person and trade secrets or names of customers.” The 

Commission is also required to protect certain information contained in a government system of records 

according to the Privacy Act of 1974, 5 U.S.C. 552a.

35 See http://www.cftc.gov/Forms/OCR
11

II. Summary of Upcoming 12, 23 and 29 Month No-Action Relief to Address Reporting 

Issues. 

In addition to the time-limited no-action relief described in Section I above, the Division believes 

that additional time-limited no-action relief is warranted to address certain reporting issues

identified by FIA in the February 2016 FIA Letter. This additional relief is summarized below, 

and discussed in more detail in the remainder of this Section II.

September 29, 2016- September 28, 2017 (12 month relief):

• Form 102A, Question 10(iii): trading account controller. In Question 10(iii), 

Reporting Parties whose client(s) fail to provide the name and physical address of the 

trading account controller may report to the Commission that a client will not provide this 

information, or that the Reporting Party does not believe that the information provided by 

a client meets the requirements of the OCR Final Rule, in lieu of reporting the data. 

Reporting Parties should refer to the Technical Guidance Document, available on the 

Commission’s “Ownership and Control Reporting (OCR)” homepage,

36 for more 

information on how to designate to the Commission that a client will not provide the 

required information, or that the Reporting Party does not believe that the information 

provided by a client meets the requirements of the OCR Final Rule.

• Form 102B (DCM reporting), Question 6: volume threshold account controller. In 

Question 6, Reporting Parties whose client(s) fail to provide the name and physical 

address of the volume threshold account controller may report to the Commission that a 

client will not provide this information, or that the Reporting Party does not believe that 

the information provided by a client meets the requirements of the OCR Final Rule, in 

lieu of reporting the data. Reporting Parties should refer to the Technical Guidance 

Document for more information on how to designate to the Commission that a client will 

not provide the required information, or that the Reporting Party does not believe that the 

information provided by a client meets the requirements of the OCR Final Rule.

September 29, 2016- August 29, 2018 (23 month relief):

• Form 102A, Question 10(iii): trading account controller. Form 102A requires the 

reporting of various contact fields related to the trading account controller in Question 

10(iii). During the period of no-action relief, Reporting Parties will not be required to

report the phone number, name of employer, employer NFA ID, employer legal entity 

identifier, job title, relationship to owner, email address, or controller NFA ID in 

Question 10(iii).

• Form 102A, Question 10(ii): trading account owner; Question 10(iii): trading 

account controller. Form 102A requires the names of trading account owners in 

Question 10(ii) and the names of trading account controllers in Question 10(iii) to be 

reported by 9 a.m. on the business day following the date on which the special account 

becomes reportable. During the period of no-action relief, the names of trading account 

owners in Question 10(ii) and the names of trading account controllers in Question 10(iii)

 36 See http://www.cftc.gov/Forms/OCR
12

must still be reported by 9 a.m. on the business day following the date on which the 

special account becomes reportable; provided, however, that the Division will not 

recommend that the Commission commence an enforcement action, during the period of 

no-action relief, in instances where Reporting Parties modify the information they 

previously reported for these fields up to 9 a.m. on the third business day following the 

date on which the special account becomes reportable.

• Form 102B (DCM reporting) reporting trigger. Form 102B requires volume-based 

reporting, for which the reporting trigger is trading volume of 50 or more contracts per 

day, under the definition of “reportable trading volume level” in § 15.04. This no-action 

letter provides relief from the requirement to report on Form 102B based on a reportable 

trading volume level of 50 contracts, provided that reporting parties relying on this relief 

report on Form 102B based instead on the following reportable trading volume level:

o trading volume of 250 or more contracts per day from September 29, 201637

until September 28, 2017.

38 

o trading volume of 100 or more contracts per day from September 29, 201739

until August 29, 2018.

40

No-action relief with respect to the reportable trading volume level expires on August 29, 

2018,

41 at which point the reportable trading volume level will revert back to the original 

50 contracts under § 15.04.

• Form 102B (DCM reporting), Question 6: volume threshold account controller. 

Form 102B requires the reporting of various contact fields related to the DCM volume 

threshold account controller in Question 6. During the period of no-action relief, 

Reporting Parties will not be required to report the phone number, name of employer, 

employer NFA ID, employer legal entity identifier, job title, relationship to owner, email 

address, or controller NFA ID in Question 6.

• Form 102B (DCM reporting), Question 5: volume threshold account owner; 

Question 6: volume threshold account controller. Form 102B requires the names of 

DCM volume threshold account owners in Question 5 and the names of DCM volume 

threshold account controllers in Question 6 to be reported by 9 a.m. on the business day 

following the date on which the volume threshold account becomes reportable. During 

the period of no-action relief, the names of DCM volume threshold account owners in 

Question 5 and the names of DCM volume threshold account controllers in Question 6 

must still be reported by 9 a.m. on the business day following the date on which the 

volume threshold account becomes reportable; provided, however, that the Division will 

not recommend that the Commission commence an enforcement action, during the period 

of no-action relief, in instances where Reporting Parties modify the information they

 37 At 12:00 a.m. Eastern Time.

38 At 11:59 p.m. Eastern Time.

39 At 12:00 a.m. Eastern Time.

40 At 11:59 p.m. Eastern Time.

41 At 11:59 p.m. Eastern Time.
13

previously reported for these fields up to 9 a.m. on the third business day following the 

date on which the volume threshold account becomes reportable.

• Form 102S. Form 102S requires the reporting of several new data points not required on 

the Legacy 102S Filing. During the period of no-action relief, the following new data 

points will be optional to report on Form 102S, and will not be required to be reported: 

the name of omnibus account originators, and all related address and contact fields (see 

Question 3(ii) on Form 102S); all consolidated account owner fields (see Question 3(iii) 

on Form 102S); and all consolidated account controller fields (see Question 3(iv) on 

Form 102S). As a condition of this relief, Reporting Parties must instead identify the

consolidated account counterparty, and must also report the required 102S information

via the new automated methods introduced by the OCR Final Rule. Reporting Parties 

should refer to the Technical Guidance Document, available on the Commission’s 

“Ownership and Control Reporting (OCR)” homepage,42 for detailed specifications 

regarding the data points required to be reported on Form 102S.

Date of this April 2016 CFTC NAL – August 29, 2018 (29 month relief):

• Form 102B (SEF reporting). Reporting Parties will not be required to report SEF 

volume threshold accounts via New Form 102B during this period of no-action relief. 

The remainder of this Section II describes the time-limited no-action relief summarized above, 

along with the terms and conditions of relief, in more detail. 

A. Conditional No-action Relief from Submitting Certain Specified Information via 

New Form 102A; Runs from September 29, 201643 until September 28, 201744

Form 102A, Question 10(iii): trading account controller. The Division believes that 

time-limited no-action relief is warranted for certain reporting obligations under Part 17 

of the Commission’s regulations that were implemented by the OCR Final Rule. Subject 

to the condition below, the Division will not recommend that the Commission commence 

an enforcement action against a Reporting Party for failure to report the Form 102A 

information discussed in the following paragraph, as required by Part 17, from September 

29, 201645 until September 28, 2017.

46

In Question 10(iii) of Form 102A, Reporting Parties whose client(s) fail to provide the 

name and physical address of the trading account controller may report to the 

Commission that a client will not provide this information, or that the Reporting Party 

does not believe that the information provided by a client meets the requirements of the 

 42 See http://www.cftc.gov/Forms/OCR

43 At 12:00 a.m. Eastern Time.

44 At 11:59 p.m. Eastern Time.

45 At 12:00 a.m. Eastern Time.

46 At 11:59 p.m. Eastern Time.
14

OCR Final Rule, in lieu of reporting the data. Reporting Parties should refer to the 

Technical Guidance Document for more information on how to designate to the 

Commission that a client will not provide the required information, or that the Reporting 

Party does not believe that the information provided by a client meets the requirements of 

the OCR Final Rule. This no-action relief applies to new filings (§ 17.01(a)), change 

updates (§ 17.02(b)(3)) and refresh updates (§ 17.02(b)(4)) submitted within the period of 

no-action relief. Any such filings submitted after the end of no-action relief must include 

the name and physical address of the trading account controller, even if such filings are 

intended to change or refresh filings that, because they were submitted during the period 

of no-action relief, originally omitted this information. The no-action relief described in 

this Section (A) is subject to the condition in Section (G)(1) and (2) below. 

B. Conditional No-action Relief from Submitting Certain Specified Information 

Regarding DCM Volume Threshold Accounts via New Form 102B; Runs from 

September 29, 201647 until September 28, 201748

Form 102B (DCM reporting), Question 6: volume threshold account controller. The 

Division believes that time-limited no-action relief is warranted for certain reporting 

obligations under Part 17 of the Commission’s regulations that were implemented by the 

OCR Final Rule. Subject to the condition below, the Division will not recommend that 

the Commission commence an enforcement action against a Reporting Party for failure to 

report the Form 102B information discussed in the following paragraph, as required by 

Part 17, from September 29, 201649 until September 28, 2017.

50

In Question 6 of Form 102B, Reporting Parties whose client(s) fail to provide the name 

and physical address of the volume threshold account controller may report to the 

Commission that a client will not provide this information, or that the Reporting Party 

does not believe that the information provided by a client meets the requirements of the 

OCR Final Rule, in lieu of reporting the data. Reporting Parties should refer to the 

Technical Guidance Document for more information on how to designate to the 

Commission that a client will not provide the required information, or that the Reporting 

Party does not believe that the information provided by a client meets the requirements of 

the OCR Final Rule. This no-action relief applies to new filings (§ 17.01(b)), change 

updates (§ 17.02(c)(3)) and refresh updates (§ 17.02(c)(4)) for DCM volume threshold 

accounts. Any such filings submitted after the end of no-action relief must include the 

name and physical address of the volume threshold account controller, even if such 

filings are intended to change or refresh filings that, because they were submitted during 

the period of no-action relief, originally omitted this information. The no-action relief 

described in this Section (B) is subject to the condition in Section (G)(1) and (2) below. 

 47 At 12:00 a.m. Eastern Time.

48 At 11:59 p.m. Eastern Time.

49 At 12:00 a.m. Eastern Time.

50 At 11:59 p.m. Eastern Time.
15

C. Conditional No-action Relief from Submitting Certain Specified Information via 

New Form 102A; Runs from September 29, 201651 until August 29, 201852

(1) Form 102A, Question 10(iii): trading account controller. The Division 

believes that time-limited no-action relief is warranted for certain reporting obligations 

under Part 17 of the Commission’s regulations that were implemented by the OCR Final 

Rule. Subject to the condition below, the Division will not recommend that the 

Commission commence an enforcement action against a Reporting Party for failure to 

report the Form 102A information discussed in the following paragraph, as required by 

Part 17, from September 29, 201653 until August 29, 2018.

54

Form 102A requires the reporting of various contact fields related to the trading account 

controller in Question 10(iii). During the period of no-action relief, Reporting Parties

will not be required to report the phone number, name of employer, employer NFA ID, 

employer legal entity identifier, job title, relationship to owner, email address, or 

controller NFA ID in Question 10(iii). This no-action relief applies to new filings (§ 

17.01(a)), change updates (§ 17.02(b)(3)) and refresh updates (§ 17.02(b)(4)). The noaction relief described in this Section (C)(1) is subject to the condition in Section (G)(1)

below.

(2) Form 102A, Question 10(ii): trading account owner; Question 10(iii): trading 

account controller. The Division believes that time-limited no-action relief is warranted 

for certain reporting obligations under Part 17 of the Commission’s regulations that were 

implemented by the OCR Final Rule. Subject to the condition below, the Division will 

not recommend that the Commission commence an enforcement action against a 

Reporting Party for failure to report the Form 102A information discussed in the 

following paragraph, as required by Part 17, from September 29, 201655 until August 29, 

2018.

56

Form 102A requires the names of trading account owners in Question 10(ii) and the 

names of trading account controllers in Question 10(iii) to be reported by 9 a.m. on the 

business day following the date on which the special account becomes reportable.

During the period of no-action relief, the names of trading account owners in Question 

10(ii) and the names of trading account controllers in Question 10(iii) must still be 

reported by 9 a.m. on the business day following the date on which the special account 

becomes reportable; provided, however, that the Division will not recommend that the 

 51 At 12:00 a.m. Eastern Time.

52 At 11:59 p.m. Eastern Time.

53 At 12:00 a.m. Eastern Time.

54 At 11:59 p.m. Eastern Time.

55 At 12:00 a.m. Eastern Time.

56 At 11:59 p.m. Eastern Time.
16

Commission commence an enforcement action, during the period of no-action relief, in 

instances where Reporting Parties modify the information they previously reported for 

these fields up to 9 a.m. on the third business day following the date on which the special 

account becomes reportable. This no-action relief applies to new filings (§ 17.01(a)) and

change updates (§ 17.02(b)(3)). The no-action relief described in this Section (C)(2) is 

subject to the condition in Section (G)(1) below.

D. Conditional No-action Relief from Submitting Certain Specified Information 

Regarding DCM Volume Threshold Accounts via New Form 102B; Runs from 

September 29, 201657 until August 29, 201858

(1) Form 102B (DCM reporting) reporting trigger. Form 102B requires volumebased reporting, for which the reporting trigger is trading volume of 50 or more contracts 

per day, under the definition of “reportable trading volume level” in § 15.04. The 

Division believes that time-limited no-action relief is warranted for the obligation to 

report on Form 102B in accordance with the 50 contract level. 

Staggered reporting trigger. This April 2016 CFTC NAL provides relief from the 

requirement to report on Form 102B based on a reportable trading volume level of 50 

contracts, provided that reporting parties relying on this relief report on Form 102B based 

instead on the following reportable trading volume level:

o trading volume of 250 or more contracts per day from September 29, 201659

until September 28, 2017.

60 

o trading volume of 100 or more contracts per day from September 29, 201761

until August 29, 2018.

62

No-action relief with respect to the reportable trading volume level expires on August 29, 

2018,

63 at which point the reportable trading volume level will revert back to the original 

50 contracts under § 15.04.

Subject to the condition below, the Division will not recommend that the Commission 

commence an enforcement action, during the period of no-action relief, against a 

Reporting Party for failure to report a DCM volume threshold account based on a 

reportable trading volume level of 50 contracts, provided that Reporting Parties relying 

on this relief report instead based on a reportable trading volume level of (i) 250 or more 

 57 At 12:00 a.m. Eastern Time.

58 At 11:59 p.m. Eastern Time.

59 At 12:00 a.m. Eastern Time.

60 At 11:59 p.m. Eastern Time.

61 At 12:00 a.m. Eastern Time.

62 At 11:59 p.m. Eastern Time.

63 At 11:59 p.m. Eastern Time.
17

contracts per day, from September 29, 201664 until September 28, 2017,65 and (ii) 100 or

more contracts per day, from September 29, 201766 until August 29, 2018.

67 This noaction relief applies to new filings (§ 17.01(b)), change updates (§ 17.02(c)(3)) and 

refresh updates (§ 17.02(c)(4)) for DCM volume threshold accounts. The no-action relief 

described in this Section (D)(1) is subject to the condition in Section (G)(1) below.

(2) Form 102B (DCM reporting), Question 6: volume threshold account 

controller. The Division believes that time-limited no-action relief is warranted for 

certain reporting obligations under Part 17 of the Commission’s regulations that were 

implemented by the OCR Final Rule. Subject to the condition below, the Division will 

not recommend that the Commission commence an enforcement action against a 

Reporting Party for failure to report the Form 102B information discussed in the 

following paragraph, as required by Part 17, from September 29, 201668 until August 29, 

2018.

69

Form 102B requires the reporting of various contact fields related to the DCM volume 

threshold account controller in Question 6. During the period of no-action relief, 

Reporting Parties will not be required to report the phone number, name of employer, 

employer NFA ID, employer legal entity identifier, job title, relationship to owner, email 

address, or controller NFA ID in Question 6. This no-action relief applies to new filings 

(§ 17.01(b)), change updates (§ 17.02(c)(3)) and refresh updates (§ 17.02(c)(4)) for DCM 

volume threshold accounts. The no-action relief described in this Section (D)(2) is 

subject to the condition in Section (G)(1) below.

(3) Form 102B (DCM reporting), Question 5: volume threshold account owner; 

Question 6: volume threshold account controller. The Division believes that timelimited no-action relief is warranted for certain reporting obligations under Part 17 of the 

Commission’s regulations that were implemented by the OCR Final Rule. Subject to the 

condition below, the Division will not recommend that the Commission commence an 

enforcement action against a Reporting Party for failure to report the Form 102B 

information discussed in the following paragraph, as required by Part 17, from September 

29, 201670 until August 29, 2018.

71

 64 At 12:00 a.m. Eastern Time.

65 At 11:59 p.m. Eastern Time.

66 At 12:00 a.m. Eastern Time.

67 At 11:59 p.m. Eastern Time.

68 At 12:00 a.m. Eastern Time.

69 At 11:59 p.m. Eastern Time.

70 At 12:00 a.m. Eastern Time.

71 At 11:59 p.m. Eastern Time.
18

Form 102B requires the names of DCM volume threshold account owners in Question 5 

and the names of DCM volume threshold account controllers in Question 6 to be reported 

by 9 a.m. on the business day following the date on which the volume threshold account 

becomes reportable. During the period of no-action relief, the names of DCM volume 

threshold account owners in Question 5 and the names of DCM volume threshold 

account controllers in Question 6 must still be reported by 9 a.m. on the business day 

following the date on which the volume threshold account becomes reportable; provided, 

however, that the Division will not recommend that the Commission commence an 

enforcement action, during the period of no-action relief, in instances where Reporting 

Parties modify the information they previously reported for these fields up to 9 a.m. on 

the third business day following the date on which the volume threshold account becomes 

reportable. This no-action relief applies to new filings (§ 17.01(b)) and change updates 

(§ 17.02(c)(3)) for DCM volume threshold accounts. The no-action relief described in 

this Section (D)(3) is subject to the condition in Section (G)(1) below.

E. Conditional No-action Relief from Submitting Certain Specified Information 

Regarding SEF Volume Threshold Accounts via New Form 102B; Runs from date 

of this April 2016 CFTC NAL until August 29, 201872

Form 102B (SEF reporting). The Division believes that time-limited no-action relief is 

warranted for certain reporting obligations under Part 17 of the Commission’s regulations 

that were implemented by the OCR Final Rule. In particular, Division staff is aware of 

practical limitations regarding the reportable trading volume level, as defined in 

regulation § 15.04, for SEF volume threshold accounts reported via New Form 102B. In 

light of these concerns regarding § 15.04 as it applies to SEFs, the Division believes that 

no-action relief extending from the date of this April 2016 CFTC NAL to August 29, 

201873 is warranted with respect to this reporting obligation. Subject to the condition in 

Section (G)(1) below, the Division will not recommend that the Commission commence 

an enforcement action against a Reporting Party for failure to report SEF volume 

threshold accounts via New Form 102B, as required by Part 17, until August 29, 2018.74

Division staff will use the period of relief to consider whether to recommend that the 

Commission pursue certain changes to the OCR Final Rule as it pertains to SEFs.

F. Conditional No-action Relief from Submitting Certain Specified Information via 

New Form 102S; Runs from September 29, 201675 until August 29, 201876

Form 102S. The Division believes that time-limited no-action relief is warranted for 

certain reporting obligations under Part 20.5 of the Commission’s regulations that were 

 72 At 11:59 p.m. Eastern Time.

73 At 11:59 p.m. Eastern Time.

74 At 11:59 p.m. Eastern Time.

75 At 12:00 a.m. Eastern Time.

76 At 11:59 p.m. Eastern Time.
19

implemented by the OCR Final Rule. Subject to the condition below, the Division will 

not recommend that the Commission commence an enforcement action against a 

Reporting Party for failure to report the Form 102S information discussed in the 

following paragraph, as required by Part 20.5, from September 29, 201677 until August 

29, 2018.

78

Form 102S requires the reporting of several new data points not required on the Legacy 

102S Filing. During the period of no-action relief, the following new data points will be 

optional to report on Form 102S, and will not be required to be reported: the name of 

omnibus account originators, and all related address and contact fields (see Question 3(ii) 

on Form 102S); all consolidated account owner fields (see Question 3(iii) on Form 

102S); and all consolidated account controller fields (see Question 3(iv) on Form 102S). 

Reporting Parties relying on this relief will be required instead to identify the 

consolidated account counterparty, and must also report the required 102S information 

via the new automated methods introduced by the OCR Final Rule. Reporting Parties 

should refer to the Technical Guidance Document, available on the Commission’s 

“Ownership and Control Reporting (OCR)” homepage,79 for detailed specifications 

regarding the data points required to be reported on Form 102S. This no-action relief 

applies to new filings (§ 20.5 (a)), change updates (§ 20.5 (a)(4)), and refresh updates (§ 

20.5 (a)(5)). The no-action relief described in this Section (F) is subject to the condition 

in Section (G)(1) below.

G. Conditions of Relief; Testing of Electronic Reporting Methods

(1) Prior to the final expiration of no-action relief described in this Section II, 

Reporting Parties are expected to cooperate with staff of the Commission’s ODT group

as requested to test and implement any information technology standards or systems 

associated with the OCR Final Rule as contemplated in that rulemaking.80 During the 

period of relief described in this Section II, Reporting Parties are expected to provide 

“Production Grade” test data81 and any other form filings requested by ODT staff,82 in 

 77 At 12:00 a.m. Eastern Time.

78 At 11:59 p.m. Eastern Time.

79 See http://www.cftc.gov/Forms/OCR

80 OCR Final Rule at 69188-69189.

81 “Production Grade” data means (a) in the context of New Form 102A testing, data that, to the extent it 

overlaps, is identical to data submitted pursuant to Part 17 of the Commission’s regulations (Large Trader 

data and Trader Capture Report data); (b) in the context of New Form 102S testing, data that, to the extent 

it overlaps, is identical to data submitted pursuant to Part 20 of the Commission’s regulations 

(Commodity Swaps data); and (c) in the context of New Form 102B testing, data that is equivalent to the 

data that the Commission will receive following the implementation of electronic reporting on New Form 

102B. Production Grade data will be used by the Commission only for testing purposes.

82 The Commission will protect proprietary information consistent with the Freedom of Information Act, 

5 U.S.C. 552, and 17 CFR part 145, “Commission Records and Information.” In addition, § 8(a)(1) of the 

Commodity Exchange Act, 7 U.S.C. §12(a)(1), strictly prohibits the Commission, unless specifically 

authorized by the Act, from making public “data and information that would separately disclose the 
20

the form and manner described on the Commission’s “Ownership and Control Reporting 

(OCR)” homepage.

83 In addition, Reporting Parties are expected to provide status reports 

on their implementation efforts upon request by ODT or DMO. The Division advises 

Reporting Parties to check the OCR homepage on a regular basis to review testing 

requirements.

(2) As discussed in Section II(A) above, Form 102A Reporting Parties may 

indicate to the Commission that a client will not provide the name and physical address 

of a trading account controller reportable on a Form 102A (or that the Reporting Party 

does not believe that the information provided by a client meets the requirements of the 

OCR Final Rule) during the period of no-action relief. Furthermore, as discussed in 

Section II(B) above, Form 102B Reporting Parties may indicate to the Commission that a 

client will not provide the name and physical address of a volume threshold account 

controller reportable on a Form 102B (or that the Reporting Party does not believe that 

the information provided by a client meets the requirements of the OCR Final Rule) 

during the period of no-action relief. Reporting Parties taking advantage of such relief in 

accordance with the terms described in Section II(A) and Section II(B) during the period 

of no-action relief must provide to DMO, upon request, a list of clients (including their 

phone number and address) that have not provided such information to such Reporting 

Parties. 

 

business transactions or market positions of any person and trade secrets or names of customers.” The 

Commission is also required to protect certain information contained in a government system of records 

according to the Privacy Act of 1974, 5 U.S.C. 552a.

83 See http://www.cftc.gov/Forms/OCR
21

This letter, and the no-action position taken herein, which is based on FIA’s representations, 

represents the views of the Division only, and does not necessarily represent the position or 

views of the Commission or of any other division or office of the Commission’s staff. The noaction position taken herein does not excuse affected persons from compliance with any other 

applicable requirements of the Commodity Exchange Act or the regulations thereunder. As with 

all no-action letters, the Division retains the authority to, in its discretion, further condition, 

modify, suspend, terminate or otherwise restrict the terms of the no-action relief provided herein.

If you have any questions concerning this correspondence, please contact Sebastian Pujol Schott, 

Associate Director, DMO, at (202) 418-5641, or Mark Schlegel, Special Counsel, DMO, at (202) 

418-5055. 

Sincerely yours,

_______________________________

Vincent McGonagle

Director

Division of Market Oversight
22

Appendix A84

Detailed Instructions on Submitting Legacy Form 10285

Special account designation and identification.

When a special account is reported for the first time, the futures commission merchant, clearing 

member, or foreign broker shall identify the account to the Commission on Legacy Form 102, in 

the form and manner specified in Section I(A) of this no-action letter, showing the information in 

paragraphs (a) through (f) of this Appendix A.

 (a) Special account designator. A unique identifier for the account, provided, that the same 

designator is assigned for option and futures reporting, and the designator is not changed or 

assigned to another account without prior approval of the Commission or its designee.

 (b) Special account identification. The name, address, business phone, and for individuals, the 

person’s job title and employer for the following:

 (1) The person originating the account, if the special account is a house omnibus or customer 

omnibus account; or

 (2) The person (i.e., individual, corporation, partnership, etc.) who owns the special account, if 

such person (or an employee or officer) also controls the trading of the special account. And, in 

addition:

 (i) The registration status of the person as a commodity trading advisor or a securities 

investment advisor;

 (ii) The legal organization of the person and the person’s principal business or occupation;

 (iii) Account numbers and account names included in the special account, if different than 

supplied in paragraph (b)(2) of this Appendix A;

 (iv) The name and location of all persons not identified in paragraph (b)(2) of this Appendix A 

having a ten percent or more financial interest in the special account, indicating those having 

discretionary trading over the account; and

 (v) For special accounts with five or fewer persons having trading authority, the names and 

locations of all persons with trading authority that have not been identified in paragraphs (b)(2) 

or (b)(2)(iv) of this Appendix A; or

 (3) The account controller, if trading of the special account is controlled by a person or legal 

entity who is an independent account controller for the account owners as defined in § 150.1(e) 

of the Commission’s regulations. And, in addition:

 (i) The registration status of the person as a commodity trading advisor or a securities 

investment advisor;

 (ii) [Reserved]

 84 See the link below to the Commission’s website for general information on submitting forms to the 

Commission:

http://www.cftc.gov/Forms/index.htm

85 See the link below to the Commission’s website for a copy of Legacy Form 102: 

http://www.cftc.gov/Forms/ssLINK/cftcform102
23

 (iii) If fewer than ten accounts are under control of the independent advisor, for each account 

the account number and the name and location of each person having a ten percent or more 

financial interest in the account; and

 (iv) On call by the Commission or its designee, for each account controlled by the independent 

advisor, the account number and account name and the name and location of each person having 

a ten percent or more financial interest in the account.

 (c) [Reserved]

 (d) Commercial use. For futures or options, commodities in which positions or transactions in 

the account are associated with a commercial activity of the account owner in a related cash 

commodity or activity (i.e., those considered as hedging, risk-reducing, or otherwise off-setting 

with respect to the cash commodity or activity).

 (e) Account executive. The name and business telephone number of the associated person of 

the futures commission merchant who has solicited and is responsible for the account or, in the 

case of an introduced account, the name and business telephone number of the introducing 

broker who introduced the account.

 (f) Reporting firms. The name and address of the futures commission merchant, clearing 

member, or foreign broker carrying the account, and the name, title and business phone of the 

authorized representative of the firm filing the Legacy Form 102 and the date of the Legacy 

Form 102. The authorized representative shall sign the Legacy Form 102 or satisfy such other 

requirements for authenticating the report as instructed in writing by the Commission or its 

designee.
24

Appendix B

Detailed Instructions on Submitting Legacy Form 4086

Every trader who holds or controls a reportable futures and option position shall after a special 

call upon such trader by the Commission or its designee file with the Commission a “Statement 

of Reporting Trader” on the Legacy Form 40 at such time and place as directed in the call. All 

traders shall complete part A of the Legacy Form 40 and, in addition, shall complete:

Part B--If the trader is an individual, a partnership or a joint tenant.

Part C--If the trader is a corporation or type of trader other than an individual, partnership, or 

joint tenant.

 (a) Information to be furnished by all traders in part A of the Legacy Form 40 shall include:

 (1) Name and address of reporting trader.

 (2) Principal business and occupation of the reporting trader and, in addition, whether 

transactions are made for, on behalf of, or in association with, a customer trading program of a 

futures commission merchant, a commodity pool, a producer cooperative, any business 

activities in which the trader is commercially engaged, or for personal use.

 (3) Type of trader.

 (4) Registration status with the Commission, if any.

 (5) The name and address of each person whose option or futures trading is controlled by the 

reporting trader. Provided that if the reporting trader is a customer trading program, or the 

commodity trading advisor thereof, that is a managed or guided account program in which 

ten or more persons participate, the information furnished may be limited to the name of any 

commodity pool which participates in the program and the name and address of the CPO.

 (6) The name, address and business phone of each person who controls the trading of the 

reporting trader.

 (7) The names and locations of all futures commission merchants, clearing members, 

introducing brokers, and foreign brokers through whom accounts owned or controlled by the 

reporting trader are carried or introduced at the time of filing a Legacy Form 40, if such accounts 

are carried through more than one futures commission merchant, clearing member or foreign 

broker or carried through more than one office of the same futures commission merchant, 

clearing member or foreign broker, or introduced by more than one introducing broker clearing 

accounts through the same futures commission merchant, and the name of the reporting trader’s 

account executive at each firm or office of the firm.

 (8) The names and locations (city and state) of persons who guarantee the futures or option 

trading accounts of the reporting trader or who have a financial interest of 10 percent or more in 

the reporting trader or the accounts of the reporting trader.

 (9) The following information concerning other option or futures trading accounts which the 

reporting trader guarantees or other futures or option traders or accounts in which the reporting 

trader has a financial interest of 10 percent or more:

 86 See the link below to the Commission’s website for a copy of Legacy Form 40: 

http://www.cftc.gov/Forms/ssLINK/cftcform40
25

 (i) The names of traders for whom the reporting trader guarantees accounts or in which the 

reporting trader has a financial interest;

 (ii) The names of the accounts that the reporting trader guarantees or in which the reporting 

trader has a financial interest; and

 (iii) The names and locations of the brokerage firms at which the accounts are carried.

 (10) Information concerning ownership or control by a foreign government, agent of a foreign 

government entity specially acknowledged by a statute or regulation of a foreign jurisdiction or 

entity financed by a foreign government either through ownership of capital assets or provision 

of operating expenses.

 (11) Signature of the trader and date of signing the report. If the reporting trader is an 

organization, the signature must be that of a partner, officer or trustee authorized to sign on 

behalf of that organization.

 (b) Information to be furnished in part B of the Legacy Form 40 shall include:

 (1) Business telephone number of the reporting trader.

 (2) Employer and job title if the reporting trader is an individual.

 (3) The following information if a trader makes transactions or holds positions in a futures or 

option contract where such transactions or positions normally represent a substitute for 

transactions to be made or positions to be taken at a later time in a physical marketing 

channel, and the transactions or positions are economically appropriate to the reduction of risks 

in the conduct and management of a commercial enterprise:

 (i) Commercial activity associated with use of the option or futures market (such as and 

including production, merchandising or processing of a cash commodity, asset or liability risk 

management by depository institutions, or security portfolio risk management).

 (ii) Physical commodities underlying use of the futures or option markets.

 (iii) Futures or option markets used.

 (4) The name, address, and type of any organization in which the reporting trader participates 

in the management if such organization holds another futures or option trading account.

 (5) If the reporting trader is a partnership or joint tenant, the name and address of each partner 

(excluding limited partners in commodity pools) or joint tenant and the name of the partner or 

joint tenant who ordinarily places orders.

 (c) Information to be furnished in part C of the Legacy Form 40 shall include:

 (1) Whether or not the reporting trader is organized under the laws of any state (including the 

District of Columbia) or territory or possession of the United States or under the laws of any 

foreign jurisdiction. Reporting traders organized outside the jurisdiction of the United States 

must indicate the country of origin.

 (2) The names of parent firms and whether or not they are organized under the laws of any 

state (including the District of Columbia) or territory of possession of the United States and the 

location of each headquarter’s office.

 (3) Names and locations of all subsidiary firms that trade in commodity futures or options and 

whether or not the subsidiary firms are organized under the law of any state (including the 

District of Columbia) or territory or possession of the United States.

 (4) Name, address, and business telephone number of person(s) actually controlling the trading 

and, if different persons are responsible for different commodities or options, the commodities or 

options for which each controller has responsibility.

 (5) Name, office address and business telephone number of person or persons to contact 

regarding trading.
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 (6) The following information if a trader makes transactions or holds positions in a futures or 

option contract where such transactions or positions normally represent a substitute for 

transactions to be made or positions to be taken at a later time in a physical marketing channel 

and the transactions or positions are economically appropriate to the reduction of risks in the 

conduct and management of a commercial enterprise:

 (i) Commercial activity associated with use of the option or futures market (e.g., production, 

merchandising or processing of a cash commodity, asset/liability risk management by depository 

institutions, security portfolio risk management, etc.)

 (ii) Physical commodities underlying use of the futures or option markets.

 (iii) Futures or option markets used.