On November 28th, the CFTC's Division of Clearing and Risk announced the issuance of a time-limited, no-action letter granting relief from required clearing under section 2(h)(1)(A) of the Commodity Exchange Act and the newly adopted Part 50 regulations for certain swaps entered into by qualifying affiliated counterparties. On August 21, 2012, the Commission published for public comment in the Federal Register a notice of proposed rulemaking to exempt swaps between two affiliated counterparties from required clearing. The proposed rule is not yet final. The no-action relief will remain in effect until the earlier of April 1, 2013, or the effective date of a Commission rulemaking finalizing the proposed inter-affiliate clearing exemption rule. CFTC Press Release.