Exceptions and Exemptions

Exceptions

The Commission issued final rules to implement the exception to the clearing requirements available to counterparties meeting certain conditions in section 2h(7) of the Commodity Exchange Act (CEA).

Exemptions

The Commission issued proposed rules under section 4(c) of the CEA to exempt certain swaps entered into by cooperatives from the clearing requirement of section 2(h)(i) of the CEA.

The Commission issued final rules under section 4(c) of the CEA to exempt swaps between certain affiliated entities within a corporate group from the clearing requirement of section 2(h)(i) of the CEA. 

Related Federal Register Releases

Final Rule: 85 FR 44170 // PDF Version
17 CFR
Part 50 Exemption From the Swap Clearing Requirement for Certain Affiliated Entities--Alternative Compliance Frameworks for Anti-Evasionary Measures
Effective Date: Friday, August 21, 2020

See also:

84 FR 70446, 12/23/2019 // PDF Version
17 CFR Part 50
Exemption From the Swap Clearing Requirement for Certain Affiliated Entities--Alternative Compliance Frameworks for Anti-Evasionary Measures

Proposed Rule: 84 FR 70446 // PDF Version
12/23/2019
17 CFR Part 50 Exemption From the Swap Clearing Requirement for Certain Affiliated Entities--Alternative Compliance Frameworks for Anti-Evasionary Measures
Comment File - Closing Date: 2/21/2020

Final Rule: 78 FR 21749 // Proposed Rule: 77 FR 50425 // PDF Version
8/21/2012
17 CFR Part 39
Clearing Exemption for Swaps Between Certain Affiliated Entities
Comment File - Closing Date: 9/20/2012

Proposed Rule: 77 FR 47169 // PDF Version
8/7/2012
17 CFR Part 50
Clearing Requirement Determination Under Section 2(h) of the CEA
Comment File - Closing Date: 9/6/2012

Proposed Rule: 77 FR 41940 // PDF Version
7/17/2012
17 CFR Part 39
Clearing Exemption for Certain Swaps Entered Into by Cooperatives
Comment File - Closing Date: 8/16/2012

Final Rule: 77 FR 42559 // PDF Version
7/19/2012
17 CFR Part 39
End-User Exception to the Clearing Requirement for Swaps
Effective Date: September 17, 2012

Proposed Rule: 75 FR 80747 // PDF Version
12/23/2010
17 CFR Part 39 End-User Exception to Mandatory Clearing of Swaps
Comment File - Extended Date: 6/3/2011

Additional Information

No-Action Letter 13-23
June 7, 2013
Section 50.52 of the Commission’s regulations

Fact Sheet: Final Rule on End-User Exception to the Clearing Requirement for Swaps

Questions and Answers: End-User Exception to the Clearing Requirement for Swaps

Event: CFTC to Hold Open Meeting to Consider Final Rule on the Further Definition of the term “Swap,” Final Rule on the End-User Exception to Clearing, and Proposed Rule to Exempt from Clearing Certain Swaps by Cooperatives

Fact Sheet: Proposed Rule on the End-User Exception to Mandatory Clearing of Swaps

Q&A: End-User Exception to Mandatory Clearing of Swaps

Event: Open Meeting on Seventh Series of Proposed Rules under the Dodd-Frank Act