June 26, 2013
CFTC’s Division of Swap Dealer and Intermediary Oversight Issues No-Action Relief for Certain Swap Dealers Concerning Annual Reports of Chief Compliance Officers
Washington, DC — The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter that provides certain swap dealers (SDs) with limited relief surrounding the requirement that chief compliance officers of such SDs prepare and submit an Annual Report, pursuant to Commission Regulation 3.3.
The relief provided in the no-action letter is applicable to all SDs that: (1) are not registrants of the Securities and Exchange Commission or regulated by a U.S. prudential regulator; and (2) ended their fiscal year on March 31, 2013 (Covered Firms).
The no-action letter enumerates the subjects that must be addressed in the Annual Report of a Covered Firm for the fiscal year that ended on March 31, 2013. The letter also provides relief concerning the certification that a chief compliance officer must execute with respect to the Annual Report.
Last Updated: June 26, 2013