The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (Division) issued a letter today providing no-action relief from certain requirements in the de minimis exception from the definition of the term “swap dealer.” The no-action relief allows an entity to deal in utility operations-related swaps, as that term is defined in the letter, and not be required to register as a swap dealer, provided that the aggregate gross notional amount of swap dealing activity does not exceed $8 billion per year.
More information via press release: http://www.cftc.gov/PressRoom/PressReleases/pr6888-14
