Time-limited no-action letter allows for a transition period to comply with new variation margin requirements
The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a time-limited no-action letter stating that, from March 1, 2017 to September 1, 2017, DSIO will not recommend an enforcement action against a swap dealer (SD) for failure to comply with the variation margin requirements for swaps that are subject to a March 1, 2017 compliance date.
More info via press release: http://www.cftc.gov/PressRoom/PressReleases/pr7531-17
