CFTC Staff Letters

Interpretation of certain aspects of Regulation 30.7.

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

Time-limited no-action relief granted by DMO to swap execution facilities (SEFs) for incorporating by reference previously-negotiated freestanding agreements into SEF-generated confirmations for uncleared swap transactions, executed on or pursuant to the rules of a SEF, without the SEF receiving the freestanding agreements prior to execution or maintaining them afterwards, as required in sections 36.7(b) and 45.2(a) of the Commission’s regulations.

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

No-action relief for the Chicago Mercantile Exchange, Inc. with regard to Regulations 1.20(d) and 22.5(a).

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

Two families, whose patriarchs have been business partners of a large, publicly traded U.S. retailer since the company’s founding over forty years ago, requested no-action relief from CPO registration on behalf of the families, the S corporation founded solely to provide services to the families, and the S corporation’s employees, with regard to funds operated by the families that may invest in commodity interests. Based on the facts presented, including the longstanding business and personal relationships between the families, the Division granted the requested no-action relief from CPO registration.

Exemption permitting CPO to file a single Annual Report for the period from inception of trading on September 1, 2013 through the end of fiscal year 2014.

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

The CPO of a commodity pool operated pursuant to Regulation 4.7 requested relief from the audit requirement in Regulation 4.22(d) for the 2013 fiscal year, explained that the pool had ceased trading as of January 10, 2014, and provided waivers from the pool’s six participants, four of whom are principals or affiliates of the pool’s managing member. The Division granted relief, provided that the CPO distribute and file unaudited financial statements with NFA and provided that the final distribution of pool assets is completed within 14 days of the date of the relief letter.