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No-Action Letters

Date
No-Action Letters
01/08/2015
15-01 PDF Image; Parts 20, 45 and 46; No-Action
Time-Limited Extension of the No-Action Relief Provided in CFTC Letter No. 13-41 regarding the reporting of identifying information under Parts 20, 45 and 46.
01/23/2015
15-02 PDF Image; Regulations 1.10 and 1.17; No-Action
Request for No-Action Relief for Introducing Brokers’ Compliance with Certain Financial Reporting and Capital Computation Requirements under Regulations 1.10 and 1.17.
02/10/2015
15-03 PDF Image; Parts 17, 18 and 20 of the Commission’s Regulations; No-Action
The Division of Market Oversight (DMO) is issuing a no-action letter that provides additional time for reporting parties to comply with certain reporting requirements of the ownership and control final rule (the OCR Final Rule), which was published in the Federal Register on November 18, 2013. This no-action letter replaces a previous DMO no-action letter on the OCR Final Rule (CFTC Letter No. 14-95).
02/12/2015
15-04 PDF Image; CEA section 5h(a)(1); Commission Regulation 37.3(a)(1); No-Action
Extension of conditional time-limited no-action relief for Yieldbroker Pty Limited with regard to Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1) until May 15, 2015.
02/27/2015
15-05 PDF Image; Section 4(c)(6); No-Action
Extension of time-limited no-action relief with respect to certain Commodity Exchange Act provisions that may apply to Southwest Power Pool, Inc. and/or its participants
03/27/2015
15-15 PDF Image; 3.3(f)(2); No-Action
The no-action letter gives relief from the timing requirements of 3.3(f)(2) for filing the Chief Compliance Officer Annual Report. The relief gives an additional 30 days to file the report.
03/31/2015
15-21 PDF Image; Commission Regulations §§ 23.402(b) and (c), 23.430, 23.431(a)-(b), 23.432, 23.434, 23.502(b), 23.504(b)(4)-(6), and 23.701; No-Action
No-Action Relief is provided to swap dealers from compliance with certain Commission regulations related to business conduct standards with counterparties and swap trading relationship documentation when entering into swaps with certain special purpose vehicles in existence prior to October 10, 2013.
03/31/2015
15-22 PDF Image; CEA Section 4m(1); No-Action
The Division of Swap Dealer and Intermediary Oversight took a CPO and CTA registration no-action position with respect to the use of wholly-owned United States subsidiaries by a Canadian company to participate in commodity pools organized and operated in the United States. The Canadian company is the real estate investment subsidiary of an entity formed by a Canadian province to invest assets of pension and insurance plans. The United States subsidiaries are formed for tax purposes, and neither the Canadian company nor any of its United States subsidiaries seeks or accepts United States investors or participants.
04/22/2015
15-24 PDF Image; Commission Regulations 37.9(a)(2), 37.203, 38.152, and 38.500; No-Action
The Division of Market Oversight and the Division of Clearing and Risk are issuing a no-action letter that provides relief similar to that provided in No-Action Letters 13-66 and 14-50 by permitting swap execution facilities (SEFs) and designated contract markets (DCMs) to address clerical or operational errors that cause a swap to be rejected from clearing. The relief provided in this letter also permits SEFs and DCMS to address clerical or operational errors discovered after a swap has been cleared.
04/22/2015
15-25 PDF Image; Commodity Exchange Act section 2(h)(8) and regulations 37.6(b), 37.1000, 37.1001, 45.2, and 45.3(a); No-Action
The Division of Market Oversight is issuing a no-action letter that extends No-Action Letter 14-108 and continues to provide relief from (1) the requirement that a SEF obtain documents that are incorporated by reference in confirmations issued under Commission Regulation 37.6(b) prior to issuing the confirmation, and (2) the requirement that a SEF maintain such documents as records. In addition, the division is providing relief from the requirement set forth in Commission Regulation 45.3(a) that SEFs report terms contained in the agreements that are confirmation data.
05/15/2015
15-29 PDF Image; CEA sections 2(h)(8) and 5h(a)(1); Commission Regulations 37.3(a)(1); parts 23, 43 and 45; No-Action
Conditional no-action relief with respect to swaps trading on certain financial markets that are licensed in Australia and overseen by the Australian Securities & Investments Commission (ASIC).
05/15/2015
15-30 PDF Image; CEA section 5h(a)(1); Commission Regulation 37.3(a)(1); No-Action
Extension of conditional time-limited no-action relief for Yieldbroker Pty Limited with regard to Section 5h(a)(1) of the Commodity Exchange Act and Commission Regulation 37.3(a)(1) until October 15, 2015.
06/04/2015
15-37 PDF Image; Commodity Exchange Act 4d(g) and 4m; No-Action
No-Action Relief from Introducing Broker and Commodity Trading Advisor registration for persons located outside the United States in connection with certain activities for customers that are International Financial Institutions.
06/12/2015
15-38 PDF Image; Part 45.4; No-Action
Further extension of no-action relief originally granted by DMO on December 17, 2012 (previously extended on June 26, 2013 and June 30, 2014) to SD and MSP reporting counterparties for cleared swaps from valuation data reporting required in section 45.4(b)(2)(ii) of the Commission’s regulations.
05/08/2015
15-46 PDF Image; CEA Section 4m(1); No-Action
No-Action letter permitting, subject to certain conditions, the CPO of a pool organized as a UCITS that holds funds contributed by employees of its U.S. management company to operate said pool and its subfunds without registering as a CPO.
08/13/2015
15-48 PDF Image; 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, 23.701 to 23.704, and parts 37, 38, 43, and 50; No-Action
Extension of No-Action Relief: Transaction-Level Requirements for Non-U.S. Swap Dealers.

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