Division of Market Oversight

CFTC Announces Actions Addressing Application of the Dodd-Frank Act to Cross-Border Transactions

 

On August 4, 2016, the U.S. Commodity Futures Trading Commission (CFTC) announced two separate actions relating to the application of the Dodd-Frank Act to cross-border transactions. The CFTC issued a Final Response to District Court Remand Order in Securities Industry and Financial Markets Association, et al. v. United States Commodity Futures Trading Commission that explains the CFTC’s approach to application of swaps regulations internationally. The CFTC’s Divisions of Swap Dealer and Intermediary Oversight (DSIO), Clearing and Risk, and Market Oversight (Divisions) also issued a no-action letter that extends relief to swap dealers registered with the CFTC from certain transaction-level requirements under the Commodity Exchange Act. Press Release.

CFTC Staff Provides Relief in Connection with Swap Trade Confirmations

On March 14, the U.S. Commodity Futures Trading Commission’s Division of Market Oversight published a time-limited no-action letter that changed the deadline “for relief in connection with swap trade confirmation requirements[.]”  Release.