On 26 June 2014, the CFTC’s Division of Swap Dealer and Intermediary Oversight issued an extension of two previously issued time-limited, no-action relief actions (CFTC letters 14-02 and 14-45) to the Futures Industry Association, its member Futures Commission Merchants (“FCMs”), and similarly situated FCMs. The no-action letter extends the relief from compliance with certain conditions associated with the receipt of customer funds by an FCM to 31 October 2014.

The full text of the CFTC no-action letter is available at: http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/14- 88.pdf.