The Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission authorized non-US domiciled introducing brokers to apply local accounting principles in connection with required financial filings, when local accounting standards do not conform to generally accepted accounting principles adopted in the United States (US GAAP) or international financial reporting standards (IFRS) as adopted by the International Accounting Standards Board in lieu of US GAAP. Staff also authorized non-US domiciled IBs to report account balances in the local currency where the IB is domiciled (instead of in US dollars) and not to apply foreign currency capital charges required under CFTC regulations where the foreign currency is the local currency in the jurisdiction where the IB is located. The relief is subject to various conditions, including that all financial reports must be prepared in English.