On August 13, 2015, the Commodity Futures Trading Commission issued a time-limited no-action letter, again extending relief to non-US swap dealers registered with the CFTC from certain transaction-level requirements under the Commodity Exchange Act. This extension builds on similar relief previously granted by the CFTC in 2014 and provides that the CFTC will not take an enforcement action against non-US swap dealers for failure to comply with the specified transaction-level requirements. Subject to the limitations laid out, the relief is effective until the earlier of September 30, 2016 or the effective date of any CFTC action with respect to relief for non-US swap dealers from certain transactionlevel requirements.

The press release is available at: http://www.cftc.gov/PressRoom/PressReleases/pr7211-15