CFTC Staff Letters
CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.
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21-26 | Letter Type: No-Action Division: MPD Regulation Parts: 1.3, 23.150, 23.151, 23.152, 23.153, 23.154, 23.155, 23.156, 23.157, 23.158, 23.159, 23.400, 23.401, 23.402, 23.410, 23.430, 23.431, 23.432, 23.433, 23.434, 23.440, 23.450, 23.451, 23.501, 23.502, 23.504, 23.505, 23.701 Tags: De Minimis, Margin, Swap Dealer, Uncleared Swaps, LIBOR, IBOR, Business Conduct Standards, Confirmation, Swap Trading Relationship Documentation Issuance Date: Description: MPD is providing relief to swap dealers from registration de minimis requirements, uncleared swap margin rules, business conduct requirements, confirmation, documentation, and reconciliation requirements, and certain other eligibility requirements. This relief is to help facilitate the orderly transition from swaps that reference the London Interbank Offered Rate (LIBOR) and other interbank offered rates to swaps that reference alternative benchmarks. (ARRC No-Action Relief Extension Request) |
21-24 | Letter Type: No-Action Division: DMO, MPD Regulation Parts: 2(h)(8), 5h(a)(1), 23 Subpart F, 23 Subpart I, 23 Subpart J Tags: Brexit Issuance Date: Description: Extension of No-action relief letters 20-39 and 21-17 which were granted to ensure the continued availability, following Brexit, of regulatory relief under certain existing CFTC comparability determinations and exemption orders originally issued by the CFTC for EU entities, while CFTC staff undertakes an analysis of UK law in order to make appropriate recommendations of comparability or exemption to the CFTC. |
21-23 | Letter Type: No-Action Division: MPD Regulation Parts: 23.101, 23.102 Tags: SD, Model Issuance Date: Description: Letter of Non-Compliance and related Temporary No-Action Position for StoneX Markets LLC with regard to Certain Capital Requirements (SXM No-Action Request) |
21-22 | Letter Type: No-Action Division: MPD Regulation Parts: 23.102, 23.103 Tags: Swap Dealer, Model Issuance Date: Description: Time-Limited No-Action Position for Registered Swap Dealer to use Models to Compute Market Risk and Credit Risk Capital Charges In Lieu of Standardized Charges (JFSI No-Action Request) |
21-21 | Letter Type: No-Action Division: MPD Regulation Parts: 23.102, 23.103 Tags: Swap Dealer, Model Issuance Date: Description: Time-Limited No-Action Position for Registered Swap Dealer to use Models to Compute Credit Risk Capital Charges In Lieu of Standardized Charges. (NGFP No-Action Request) |
21-20 | Letter Type: No-Action Division: MPD Regulation Parts: 23.100, 23.106 Tags: Foreign, Reporting, SD, Swap Dealer Issuance Date: Description: Time-Limited No-Action Position for Non-Bank Swap Dealers Domiciled in Japan, Mexico, United Kingdom and the European Union (IIB/ISDA/SIFMA No-Action Request) |
21-18 | Letter Type: No-Action Division: MPD Regulation Parts: 23.105 Tags: Financial Reports, Swap Dealer Issuance Date: Description: Time Limited No Action relief from regulation 23.105(p) for certain alternative financial reporting by SDs subject to the capital requirements of a prudential regulator. See also: Request Letter |
21-16 | Letter Type: Exemption Division: MPD Regulation Parts: 4.7(b)(2) Tags: Commodity Pool, Compliance, CPO, Disclosure, Exemption, Funds, Pool Participant, Reporting Issuance Date: Description: Exemptive relief for a CPO from the requirement to provide quarterly account statements within 30 days of the end of each quarter for one of its pools, provided that the CPO provides monthly account statements within 45 days of the end of each month for such pool. |
21-15 | Letter Type: Interpretative Division: MPD Regulation Parts: 23.100, 23.101 Tags: SD, Swap Dealer, Tangible Net Worth Issuance Date: Description: Staff Interpretation to Swap Dealers electing the Tangible Net Worth method of calculation capital under regulation 23.101. |
21-14 | Letter Type: Advisories Division: MPD Regulation Parts: 1.17, 23.100, 23.101, 23.102 Tags: FCM, Margin, SD, Swap Dealer, Capital Issuance Date: Description: Advisory to SDs indicating they are not required to obtain approval to use a model to calculate the initial margin on uncleared swaps for purposes of determining the SD’s minimum capital requirement under Commission regulations. |