The Division of Market Oversight (DMO) and Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission have issued an advisory on ownership and control reporting (OCR) for futures commission merchants, clearing members, foreign brokers, swap dealers and certain reporting markets. In 2013, the CFTC adopted changes to its OCR requirements, including changes to OCR forms that identify market participants that own or control reportable positions in certain futures or swaps and provide detailed market participant data to the CFTC. CFTC staff have subsequently issued temporary no-action relief to extend the dates by which reporting parties must begin using the new OCR forms.
DMO and DSIO have issued the advisory to remind reporting parties to obtain from their customers or counterparties information necessary to submit new Forms 102A, 102B and 102S once the temporary no-action relief has expired. DMO and DSIO recommend that reporting parties manage their customer relationships appropriately to help ensure that the reporting parties can submit complete and accurate forms by the reporting deadlines. Reporting parties should contact customers and counterparties as appropriate to request that they provide complete OCR information as soon as possible.
The staff advisory is available here.