On March 27, CFTC Division of Swap Dealer and Intermediary Oversight announced that it is providing no-action relief to futures commission merchants, swap dealers and major swap participants from their obligation under Regulation 3.3(f)(2) to provide annual reports by their Chief Compliance Officers not more than 60 days after the end of their fiscal year. The no-action letter grants an additional 30 days to provide the annual reports to the CFTC. Press Release. No-Action Relief.
CFTC Division of Swap Dealer and Intermediary Oversight
CFTC Issues Advisory on Reporting Obligations Pursuant to the Ownership and Control Final Rule
On March 23, CFTC Division of Market Oversight and Division of Swap Dealer and Intermediary Oversight issued a staff advisory to remind certain reporting parties (including futures commission merchants, clearing members, foreign brokers, swap dealers and certain reporting markets) of their obligation to obtain information on a timely basis from their customers or counterparties in order to comply with the ownership and control reports final rule (OCR Final Rule). Release. Staff Advisory. OCR Final Rule.