Source: http://www.cftc.gov/LawRegulation/CFTCStaffLetters/LettersArchive/2013CFTCStaffLetters/index.htm
Timestamp: 2013-12-13 09:47:45
Document Index: 792484930

Matched Legal Cases: ['art 23', 'art 4', 'art 4', '§ 32', '§ 32', 'arts 45', 'arts 45', 'arts 43', 'arts 43', 'art 23', 'art 17', '§ 50', '§45', '§ 45', 'art 43', 'art 45', '§ 43', 'art 43', 'art 45', 'arts 43', '§ 45', 'art 45', 'arts 20', 'art 45', 'art 46', 'art 20', 'art 23', 'art 23', 'art 43', '§ 43', '§ 43', '§43', 'arts 43', 'arts 43', 'arts 37', 'arts 23', 'arts 43']

2013 CFTC Staff Letters - CFTC
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03/18/2013 13-01 ;
Section 2(h) of the CEA; No-Action
No-Action Relief from Required Clearing for Swaps Resulting from Multilateral Portfolio Compression Exercises
03/20/2013 13-02 ;
No-Action Relief from Required Clearing for Partial Novation and Partial Termination of Swaps
03/28/2013 13-03 ;
Commission Regulation 3.3; No-Action
No-Action Relief for Certain Futures Commission Merchants from Compliance with Certain Requirements of Commission Regulation 3.3 Relating to Annual Reports by Chief Compliance Officers.
03/29/2013 13-04 ;
Sections 4d and 4m of the Commodity Exchange Act; No-Action
Relief for Additional Agent Affiliates from Registration as an Introducing Broker under Section 4d or a Commodity Trading Advisor under Section 4m of the Commodity Exchange Act.
03/29/2013 13-05 ;
Section 4(c)(6); No-Action
Extension of Staff No-Action Relief with Respect to Certain CEA Provisions That May Apply to Certain RTOs, ISOs, and/or Their Participants.
03/30/2013 13-06 ;
Commission Regulations 23.201, 23.202, 23.203; No-Action
Request for No-Action Relief for Swap Dealers and Major Swap Participants from Compliance with Certain Internal Business Conduct Requirements Found in Subpart F to Part 23 of the CFTC’s Regulations.
03/29/2013 13-07 ;
Part 4; No-Action
Time-Limited No-Action Relief for Securitization Vehicles Regarding Compliance with Part 4 of the Commission’s Regulations.
04/05/2013 13-08 ;
Regulation 32.2, 32.3; No-Action
Staff No-Action Relief from the Reporting Requirements of § 32.3(b)(1) of the Commission’s Regulations, and Certain Recordkeeping Requirements of § 32.3(b), for End Users Eligible for the Trade Option Exemption.
04/05/2013 13-09 ;
Parts 45, 46, and 50; No-Action
No-Action Relief for Swaps Between Affiliated Counterparties That Are Neither Swap Dealers Nor Major Swap Participants from Certain Swap Data Reporting Requirements Under Parts 45, 46, and Regulation 50.50(b) of the Commission’s Regulations.
04/09/2013 13-10 ;
Parts 43, 45 and 46 of the CFTC’s regulations; No-Action
Time-Limited No-Action Relief for Swap Counterparties that are not Swap Dealers or Major Swap Participants, from Certain Swap Data Reporting Requirements of Parts 43, 45 and 46 of the Commission’s Regulations.
04/30/2013 13-11 ;
Part 23, Subpart H, of the Commission’s Regulations; No-Action
Time Limited Relief for Swap Dealers in Connection with Prime Brokerage Arrangements.
05/01/2013 13-12 ;
Commission Regulation 23.431; No-Action
Relief for Swap Dealers and Major Swap Participants Regarding the Obligation to Provide Certain Disclosures for Certain Transactions Under Regulation 23.431.
05/02/2013 13-13 ;
Time-Limited Relief for Swap Dealers and Major Swap Participants from Compliance with Business Conduct Standards in Foreign Exchange Transactions with a Settlement Cycle of No More than Seven Local Business Days.
05/08/2013 13-14 ;
Regulation 19.02; Advisories; No-Action; Other Written Communication
No-Action Relief with Respect to Email as an Accepted Form of Transmitting Form 304 Reports for Call Cotton.
05/08/2013 13-15 ;
Regulation 16.01; Advisories; Other Written Communication
Reporting Block Trade Volume Data Pursuant to Commission Regulation 16.01.
05/22/2013 13-16 ;
Part 17 of the CFTC’s regulations; Advisories; Other Written Communication
Obligation of Futures Commission Merchants, Clearing Members and Foreign Brokers to Report Omnibus Account Information in a Timely Manner as Required by Commission Regulation 17.04(a).
03/13/2013 13-17 ;
Section 4m(1) of the Act;Registration as a Commodity Pool Operator; No-Action
The Division of Swap Dealer and Intermediary Oversight provided no-action relief to the general partners of two commodity pools from registering as a CPO under Section 4m(1) of the Commodity Exchange Act, and allowed an affiliated CPO (“designee”) to serve as the CPO of the pools instead, where, among other things: (1) the general partners and the designee are under common ownership and control; (2) the general partners have delegated all of their management authority to the designee; (3) the general partners do not engage in the solicitation of investors for the pools and do not manage property of the pools; and (4) each of the general partners and the designee executed and submitted to the Division a written acknowledgement by which they undertake joint and several liability for any violation of the Act or the Commission’s regulations.
03/13/2013 13-18 ;
Section 4m(1) of the Act; Registration as a Commodity Pool Operator; No-Action
The Division of Swap Dealer and Intermediary Oversight provided no-action relief to the general partners of two commodity pools from registering as a CPO under Section 4m(1) of the Commodity Exchange Act, and allowed an affiliated CPO ("designee") to serve as the CPO of the pools instead, where, among other things: (1) the general partners and the designee are under common ownership and control; (2) the general partners have delegated all of their management authority to the designee; (3) the general partners do not engage in the solicitation of investors for the pools and do not manage property of the pools; and (4) each of the general partners and the designee executed and submitted to the Division a written acknowledgement by which they undertake joint and several liability for any violation of the Act or the Commission’s regulations.
03/13/2013 13-19 ;
The Division of Swap Dealer and Intermediary Oversight provided no-action relief to the general partner of a commodity pool from registering as a CPO under Section 4m(1) of the Commodity Exchange Act, and allowed an affiliated CPO (“designee”) to serve as the CPO of the pool instead, where, among other things: (1) the general partner and the designee are under common ownership and control; (2) the general partner has delegated all of its management authority to the designee; (3) the general partner does not engage in the solicitation of investors for the pool and does not manage property of the pool; and (4) the general partner and designee executed and submitted to the Division a written acknowledgement by which they undertake joint and several liability for any violation of the Act or the Commission’s regulations.
03/13/2013 13-20 ;
The Division of Swap Dealer and Intermediary Oversight provided no-action relief to the managing member of a commodity pool from registering as a CPO under Section 4m(1) of the Commodity Exchange Act, and allowed an affiliate (“designee”) to serve as the CPO of the pool instead, where, among other things: (1) the managing member and the designee are under common ownership and control; (2) the managing member has delegated all of its management authority to the designee; (3) the managing member does not engage in the solicitation of investors for the pool and does not manage property of the pool; and (4) the managing member and designee executed and submitted to the Division a written acknowledgement by which they undertake joint and several liability for any violation of the Act or the Commission’s regulations. The relief was subject to the conditions that the designee becomes and remains registered as a CPO and serves as CPO of the pool.
05/31/2013 13-21 ;
Rule 1.73(a)(2)(v)(B); Other Written Communication
No-action Relief: Extension for Compliance with Rule 1.73(a)(2)(v)(B) - Screening of Bunched Orders.
06/04/2013 13-22 ;
Section 2(h)(1) of the CEA; No-Action
No-Action Relief from the Required Clearing for Swaps Entered Into By Eligible Treasury Affiliates.
06/07/2013 13-23 ;
Section 50.52 of the Commission’s regulations; Advisories; Other Written Communication
Advisory Pertaining to the Effective Date of the Clearing Exemption for Swaps Between Certain Affiliated Entities.
06/07/2013 13-24 ;
Section 2(h)(1)(A) of the CEA and Commission Regulations 50.2 and 50.4; No-Action
Time-Limited No-Action Relief from the Clearing Requirement for Swaps Entered into by Cooperatives.
06/10/2013 13-25 ;
Section 2(h)(1) of the Commodity Exchange Act and CFTC Regulations 50.2 and 50.4; No-Action
No-Action Relief for Corporación Andina de Fomento from the Swap Clearing Requirement in Section 2(h)(1) of the Commodity Exchange Act and Commission Regulations 50.2 and 50.4.
06/10/2013 13-26 ;
Section 2(j) of the Commodity Exchange Act and CFTC Regulation 50.50(b)(1)(iii)(D)(2); No-Action
Time-Limited No-Action Relief for Certain Banks Having Assets of Less than $10 billion from the Board Approval Requirement of Section 2(j) of the CEA and the End-User Exception to the Clearing Requirement (§ 50.50(b)(1)(iii)(D)(2)).
04/29/2013 13-27 ;
Rule 1.73(a)(2)(iv); Interpretation
Interpretation of Commission Regulation 1.73(a)(2)(iv).
06/17/2013 13-28 ;
CEA sections 2(d), 2(e), 2(g), 2(h), 5d; No-Action
Staff No-Action Relief: Extension of the Regulatory Status Quo Established with Respect to Certain Transactions by the Commission’s Second Amendment to the July 14, 2011 Order for Swap Regulation.
06/21/2013 13-29 ;
Commission Regulations 3.12; No-Action
No-Action Relief: Alternative to Fingerprinting to Establish Fitness of Associated Persons Residing Outside the United States.
06/21/2013 13-30 ;
Extension of Time-Limited No-Action Relief from the Clearing Requirement for Swaps Entered into by Cooperatives.
06/26/2013 13-31 ;
Commission Regulation 23.502; No-Action
The Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter stating that it will not recommend an enforcement action against an SD or MSP that omits certain "Excluded Data Fields" from the portfolio reconciliation process required under Regulation 23.502.
06/26/2013 13-32 ;
Request for Time-Limited No-Action Relief for Certain Swap Dealers from Compliance with Requirements of Commission Regulation 3.3 Relating to Annual Reports by Chief Compliance Officers.
06/26/2013 13-33 ;
Commission Regulations 23.402, 23.430, 23.431, 23.432, 23.434, 23.440, 23.450, 23.451, 23.504; No-Action
No-Action Relief: Swaps Intended to be Cleared
06/26/2013 13-34 ;
§45.4(b)(2)(ii); No-Action
Extension of Time-Limited No-Action Relief for Swap Dealers and Major Swap Participants from Compliance with Reporting Obligations Under 17 CFR § 45.4(b)(2)(ii).
06/27/2013 13-35 ;
Part 43 and Part 45: Specified subsections of §§ 43.3(a); 43.4(a); Appendix A to Part 43; 45.3(b); 45.3(c); 45.3(d); 45.4(c); Appendix 1 to Part 45; No-Action
Additional Time-Limited No-Action Relief for Bespoke or Complex Swaps from Certain Swap Data Reporting Requirements of Parts 43 and 45 of the Commission’s Regulations.
06/27/2013 13-36 ;
§ 45.3; No-Action
Extension of Time-Limited No-Action Relief for Swap Dealers and Major Swap Participants from the Reporting Requirements of Part 45 for CDS Clearing-Related Swaps.
06/27/2013 13-37 ;
Commission Regulation 1.3(ggg); No-Action
Time-Limited No-Action Relief: Request that Certain Swaps Not Be Considered in Calculating Aggregate Gross Notional Amount for Purposes of the Swap Dealer (“SD”) De Minimis Exception for Persons Engaging in Floor Trader Activities.
06/27/2013 13-38 ;
Commission Regulation 23.504; No-Action
Time-Limited No-Action Relief Regarding Certain Documentation Requirements for Swap Dealers (“SDs”) and Major Swap Participants (“MSPs”) with Foreign Exchange Counterparties.
06/27/2013 13-39 ;
The Division of Swap Dealer and Intermediary Oversight issued a no-action letter that provides swap dealers with relief from certain External Business Conduct Standards rules in the context of foreign exchange intermediated prime brokerage arrangements.
06/27/2013 13-40 ;
The Division of Swap Dealer and Intermediary Oversight issued a time-limited no-action letter that grants relief to all swap dealers and major swap participants from the portfolio reconciliation requirements of Regulation 23.502 until August 23, 2013.
06/28/2013 13-41 ;
Parts 20, 45 and 46; No-Action
Time-Limited No-Action Relief Permitting Part 45 and Part 46 Reporting Counterparties to Mask Legal Entity Identifiers, Other Enumerated Identifiers and Other Identifying Terms and Permitting Part 20 Reporting Entities to Mask Identifying Information, with respect to certain Enumerated Jurisdictions.
07/08/2013 13-42 ;
CFTC Regulation 19.01; Advisories
07/11/2013 13-43 ;
Sections 5b(a) and 2(h)(1)(A) of the Act and implementing regulations thereunder; No-Action
No-Action Relief for LCH.Clearnet with Regard to Sections 5b(a) and 2(h)(1)(A) of the Commodity Exchange Act and Implementing Regulations Thereunder.
07/11/2013 13-44 ;
No-Action Relief for Eurex Clearing AG with Regard to Sections 5b(a) and 2(h)(1)(A) of the Commodity Exchange Act and Implementing Regulations Thereunder.
07/11/2013 13-45 ;
Part 23, Subpart I, of the Commission’s Regulations; No-Action
No-Action Relief for Registered Swap Dealers and Major Swap Participants from Certain Requirements under Subpart I of Part 23 of Commission Regulations in Connection with Uncleared Swaps Subject to Risk Mitigation Techniques under EMIR.
07/11/2013 13-46 ;
Amendment to the Direct Access No-Action Letters Issued to Foreign Boards of Trade to Permit Swaps to be Listed for Trading by Direct Access.
07/19/2013 13-47 ;
08/06/2013 13-48 ;
Part 43; No-Action
Letter 13-48 grants relief from grants relief from the aggregation prohibition in § 43.6(h)(6) for certain commodity trading advisors (“CTAs”) and investment advisors (“IAs”) with respect to large notional off-facility swaps. The no-action letter provides that until October 1, 2013 at 11:59 pm EST, the Division will not recommend that the Commission take enforcement action against CTAs and IAs that aggregate orders for the purpose of executing large notional off-facility swaps, provided they meet specified conditions. The letter also grants relief from the aggregation prohibition in § 43.6(h)(6), for CTAs and IAs, subject to similar conditions as laid out in §43.6(h)(6), aggregating orders for swaps that are not listed on a swap execution facility (“SEF”) or a designated contract market (“DCM”). This letter has been amended from the original version that was issued on July 30, 2013.
08/13/2013 13-49 ;
08/23/2013 13-50 ;
The Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter stating that the Division will not recommend that the Commission take an enforcement action against an SD or MSP for failure to comply, prior to September 15, 2013, with Regulation 23.502, provided that the SD or MSP intends to rely upon – and be compliant with – the EMIR portfolio reconciliation rules, beginning on September 15, 2013, and otherwise satisfies the conditions set forth in CFTC Letter No. 13-45 Corrected.
09/05/2013 13-51 ;
Regulations 4.22 and 4.27; No-Action
Division of Swap Dealer and Intermediary Oversight issued a no-action letter stating that it will not recommend that the Commission take enforcement action against commodity pool operators of registered funds for failure to provide a separate report for their controlled foreign corporations to the National Futures Association pursuant to Commission regulation 4.27(c) and a separate annual report for their controlled foreign corporations to the National Futures Association pursuant to Commission regulation 4.22(c); provided that such commodity pool operators consolidate the reporting for the controlled foreign corporations under Commission regulations 4.27(c) and 4.22(c) with those of the registered fund.
09/23/2013 13-52 ;
Section 5b(a) of the CEA; No-Action
The Division of Clearing and Risk (DCR) issued a letter stating that it will not recommend that the Commission take enforcement action against LCH.Clearnet Ltd (LCH) for clearing certain swaps (DCM/SEF Swaps) executed on, or subject to the rules of, designated contract markets or swap execution facilities, and will not recommend enforcement action against LCH’s clearing members for clearing DCM/SEF Swaps through LCH. This relief will be effective until the earlier of (1) March 31, 2014, or (2) the date upon which the Commission approves or denies LCH’s application for an amended DCO registration order to permit it to clear DCM/SEF Swaps.
09/27/2013 13-53 ;
Sections 5b(a) and 5(d)(11)(A) of the Act; Commission Regulation 38.601; No-Action
No-Action Relief for LCH.Clearnet Ltd with Regard to Clearing Futures and Options on Futures Executed on Nodal Exchange.
09/27/2013 13-54 ;
Regulation 40.2(a)(2); No-Action
No-Action Relief for Nodal Exchange, LLC with Regard to Commission Regulation 40.2(a)(2).
09/27/2013 13-55 ;
Parts 43 and 45 of the Commission’s Regulations; No-Action
Time-Limited No-Action Relief for Temporarily Registered Swap Execution Facilities from Certain Swap Data Reporting Requirements of Parts 43 and 45 of the Commission’s Regulations.
09/27/2013 13-56 ;
Section 45.4 of the Commission’s Regulations; No-Action
Time Limited No-Action Relief for Reporting Counterparties from Certain Continuation Data Reporting Requirements of Section 45.4 of the Commission’s Regulations with respect to Uncleared Swaps Executed on or Pursuant to the Rules of a Temporarily Registered Swap Execution Facility.
09/27/2013 13-57 ;
Commission Regulations 37.200(a), 37.200(b), 37.201(b)(1), 37.201(b)(3), 37.201(b)(5), 37.202(b) and 37.203; No-Action
Time-Limited No-Action Relief for Temporarily Registered Swap Execution Facilities from Enforcement Responsibilities Under Commission Regulations 37.200(a), 37.200(b), 37.201(b)(1), 37.201(b)(3), 37.201(b)(5), 37.202(b) and 37.203 with respect to market participants trading on those SEFs.
09/30/2013 13-58 ;
37.6(b); No-Action
Time-Limited No-Action Relief to Temporarily Registered Swap Execution Facilities from Commission Regulation 37.6(b) for Non-Cleared Swaps in All Asset Classes.
09/30/2013 13-59 ;
CEA section 5h(a)(1); Commission Regulation 37.3(a)(1); No-Action
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).
09/30/2013 13-60 ;
Commission regulation 40.2(a)(2); No-Action
Time-Limited No-Action Relief for Swap Execution Facilities and Designated Contract Markets from the One Business Day Product Review Period Requirement of Commission Regulation 40.2(a)(2) for Newly-Listed Swap Products.
09/30/2013 13-61 ;
Time-Limited No-Action Relief: Request that Certain Swaps Not Be Considered in Calculating Aggregate Gross Notional Amount for Purposes of the Swap Dealer De Minimis Exception for Persons Engaging in Floor Trader Activities. This letter extends the time-limited relief previously provided by DSIO in CFTC Letter Nos. 13-37 and 12-60.
09/30/2013 13-62 ;
Rules 1.73(a)(2)(i)-(ii), 37.702(b); No-Action
Additionally, in order for a SEF to avail itself of the no-action relief, the SEF must submit to the Commission by October 10, 2013:
(1) Pursuant to Commission Regulation 40.6, any rule amendments that are necessary for full compliance with Commission Regulation 37.702(b), and any rule amendments that are necessary to facilitate full compliance with Commission Regulation 1.73(a)(2)(i) and (a)(2)(ii), in accordance with the guidance issued by the Divisions on September 26, 2013 (Staff Guidance); and
(2) A written representation that the SEF is undertaking all steps necessary to fully comply with Commission Regulation 37.702(b), and is undertaking all steps necessary to facilitate full compliance with Commission Regulation 1.73(a)(2)(i) and (a)(2)(ii), in accordance with the Staff Guidance.
10/17/2013 13-63 ;
Time-Limited No-Action Relief for LatAm SEF, LLC from the Registration Requirements of Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1).
10/17/2013 13-64 ;
No-Action Relief: Certain Swaps by Non-U.S. Persons that are Not Guaranteed or Conduit Affiliates of a U.S. Person Not to be Considered in Calculating Aggregate Gross Notional Amount for Purposes of Swap Dealer De Minimis Exception.
10/17/2013 13-65 ;
CEA section 5h(a)(1); Commission Regulation 37.3(a)(1; No-Action
Time-Limited No-Action Relief for GTX SEF LLC from the Registration Requirements of Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1).
10/25/2013 13-66 ;
Rules 37.9(a)(2), 37.203(a); No-Action
Time-Limited No-Action Relief for (1) Futures Commission Merchants from Requirement to Comply with Commission Regulations 1.73(a)(2)(i) and (a)(2)(ii); and (2) Temporarily Registered Swap Execution Facilities from Requirement to Comply with Commission Regulation 37.702(b).
10/30/2013 13-67 ;
The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) today announced the issuance of a no-action letter extending time-limited relief for Australian-based trading platform Yieldbroker Pty Limited (Yieldbroker). DMO will not recommend that the Commission take enforcement action against Yieldbroker for failure to register as a swap execution facility (SEF) under section 5h(a)(1) of the Commodity Exchange Act (Act) or Commission Regulation 37.3(a)(1), or against any market participants for use of, or other relationships with, Yieldbroker, for an additional period expiring on December 1, 2013. This letter extends the time-limited relief previously provided by DMO in CFTC Letter No. 13-59, which was issued on September 30, 2013.
11/01/2013 13-68 ;
Parts 37, 43 and 45 of the Commission’s Regulations; No-Action
CFTC’s Division of Market Oversight Issues Extension of Certain Time-Limited No-Action Relief Regarding Swap Execution Facilities Provided by CFTC No-Action Letter Nos. 13-55 (amended), 13-56 and 13-58 for Swaps in the Foreign Exchange Asset Class.
11/14/2013 13-69 ;
Sections 2(a), 2(h), and 4s of the CEA, and Parts 23, 37, 38, 39, 43, and 50 of the Commission’s Regulations; Advisories; Other Written Communication
11/15/2013 13-70 ;
Commission Regulations 23.402, 23.430, 23.431, 23.432, 23.434, 23.440, 23.450, 23.451, and 23.504; No-Action
The Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter that provides relief for certain regulatory obligations of SDs and MSPs in the context of an “Intended-To-Be-Cleared Swap,” which, as defined in the letter, is a swap that is: (i) of a type accepted for clearing by a DCO, and (ii) intended to be submitted for clearing contemporaneously with execution. The relief extends to certain requirements under the External BCS and Commission Regulation 23.504, subject to the conditions and limitations set forth in the letter. This letter supersedes Letter No. 13-33, and states that no person may rely upon the relief provided in Letter No. 13-33 after November 15, 2013.
11/26/2013 13-71 ;
Commission Regulations 23.202, 23.205, 23.400 to 23.451, 23.501, 23.502, 23.503, 23.504, 23.505, 23.506, 23.610, and Parts 43 and 50 of the Commission’s Regulations; No-Action
Time-limited no-action relief for Non-U.S. SDs with respect to compliance with Transaction-Level Requirements when entering into Covered Transactions, until January 14, 2014.
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