The Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk and Division of Market Oversight (together, “the Divisions”) today announced the issuance of no-action letter providing time-limited and specific relief for futures commission merchants (“FCMs”) from the requirement to comply with Commission Regulation 1.73(a)(2)(i) and (a)(2)(ii), and for temporarily registered swap execution facilities (“SEFs”) from the requirement to comply with Commission Regulation 37.702(b), if the SEFs do not already have the ability to facilitate pre-execution screening. The no-action relief in this letter only applies to entities that have achieved temporary registration status as SEFs as of October 2, 2013.
More information via press release: http://www.cftc.gov/PressRoom/PressReleases/pr6733-13
