June 10, 2013
CFTC’s Division of Clearing and Risk Issues No-Action Letter for Corporación Andina de Fomento
Washington, DC – The Commodity Futures Trading Commission’s (Commission) Division of Clearing and Risk (Division) issued a letter today stating that DCR will not recommend that the Commission take enforcement action against Corporación Andina de Fomento ("CAF") for failure to comply with the clearing requirement of Section 2(h)(1) of the Commodity Exchange Act ("Clearing Requirement") as implemented by Commission Regulations 50.2 and 50.4. DCR believes that granting this no-action to CAF would be consistent with the end-user exception to the Clearing Requirement, in which the Commission determined that certain international financial institutions should not be subject to the Clearing Requirement.
Last Updated: June 10, 2013