Swap Dealer De Minimis Exception Final Staff Report is released. The Division of Swap Dealer and Intermediary Oversight announced that it has issued the Swap Dealer De Minimis Exception Final Staff Report, which supplements the Swap Dealer De Minimis Exception Preliminary Report issued on November 18, 2015. The current de minimis threshold for swap dealer registration of US$8 billion is scheduled to decrease to US$3 billion in December 2017, unless the CFTC takes further action. The Preliminary Report used available swap data to assess the de minimis exception level in light of the policy goals for swap dealer registration, and requested public comment on the report. The Final Report summarizes the public comments received in response to the Preliminary Report and provides further data analysis. It also discusses the de minimis exception alternatives noted in the Preliminary Report and identifies issues for the CFTC’s consideration. (8/15/2016)Commissioner Giancarlo statement.
CFTC proposes amendments to timing for filing chief compliance officer annual reports by certain registrants. The CFTC announced proposed amendments to CFTC regulation 3.3, which would provide futures commission merchants, swap dealers, and major swap participants additional time to file CCO annual reports and clarify the timing of the filing requirements applicable to swap dealers and major swap participants located in certain jurisdictions. If adopted, the proposed rule would effectively codify and supersede CFTC Staff Letter No. 15-15, which was issued in 2015. According to the Federal Register, comments on the proposal must be received by September 12, 2016. (8/9/2016)