ownership and control final rule

No-Action Letter Issued Regarding the OCR Final Rule

On April 8, the U.S. Commodity Futures Trading Commission’s (“CFTC”) Division of Market Oversight issued a no-action letter regarding the ownership and control final rule (the “OCR Final Rule”).  The OCR Final Rule requires the electronic submission of trader identification and market participant data on new and updated forms.  The no-action letter extends certain relief previously provided and is intended to provide improvements in the reliability and consistency of the OCR data submitted to the CFTC. Release.

CFTC’s Division of Market Oversight Provides Additional Time to Comply with Electronic Reporting Requirements in the OCR Final Rule

On September 28, the U.S. Commodity Futures Trading Commission’s (the “Commission”) Division of Market Oversight issued a no-action letter that provides reporting parties additional time to comply with certain reporting requirements of the ownership and control final rule.  The rule requires reporting parties to electronically submit trader identification and market participant data on new and updated forms.  These forms allow for better identification of participants in futures and swaps markets.  Providing reporting parties with additional time is aimed at improving the reliability and consistency of data provided to the Commission.  The no-action letter extends relief to dates ranging from April 27, 2016 to February 13, 2017.  Press Release.