The CFTC’s Division of Market Oversight issues a time-limited extenstion of swap data reporting relief for particular swap dealers and major swap participants. The CFTC’s Division of Market Oversight (DMO) issued a time-limited no-action letter that provided to particular CFTC-registered swap dealers and major swap participants established under the laws of Australia, Canada, the European Union, Japan, or Switzerland. (11/9/2015) CFTC press release.
OTC Derivatives Regulators provide report to G20 Leaders. The OTC Derivatives Regulators Group (ODRG) delivered a report to the G20 Leaders, giving an update on the ODRG’s continuing effort to identify and resolve cross-border issues that are associated with the implementation of the G20 OTC derivatives reform agenda. (11/6/2015) ODRG report.
CFTC releases its annual enforcement results for fiscal year 2015. The CFTC released its enforcement results for fiscal year 2015, which included a record US$3.144 billion in civil monetary penalties ordered against wrongdoers. This past fiscal year, the CFTC filed 69 enforcement actions focusing on manipulation, spoofing and fraud and ensuring market participants meet their regulatory requirements. (11/6/2015) CFTC Press Release.
CFTC staff responds to frequently asked questions. CFTC staff responded to FAQs regarding Commission Form CPO-PQR and Form CTA-PR on filing mechanics and filing deadlines as well as technical questions regarding asset reporting classification. (11/5/2015) CFTC press release.
Time-limited no-action relief is extended to Swap Execution Facilities from certain ‘block trade’ requirements. The CFTC’s Division of Market Oversight (DMO) has extended time-limited no-action relief to Swap Execution Facilities (SEFs) from certain requirements under the definition of “block trade” in CFTC regulation Section 43.2. The No-Action Letter extends time-limited relief to SEFs from the “occurs away” requirement under Section 43.2 until November 15, 2016. The extended relief, which is subject to numerous conditions, will give DMO staff time to continue to assess and evaluate SEF trading practices and functionalities for pre-execution credit checks. In addition, the extension will allow the DMO to consider, develop and evaluate best practices and more permanent solutions to those issues that are involved in screening block trade orders for compliance with risk-based limits including, if applicable, amendments to CFTC regulations. (11/2/2015) CFTC press release.
CFTC Chairman speaks at Swap Execution Facility Conference. At the Swap Execution Facility Conference, CFTC Chairman Timothy Massad discussed how the CFTC is focusing on promoting transparency and integrity in the trading process in order to ensure that the markets continue to grow and evolve.
(10/26/2015) Massad speech.
CFTC’s Timothy Massad says that agency will address turbulence in Treasury futures trading. Nasdaq.com has reported that the CFTC’s Timothy Massad said at a Federal Reserve Bank of New York conference that the agency was set to take “specific actions in the next few months” to address turbulence in Treasury futures trading, following concerns about stability in the US$12.8 trillion government bond markets underlying those contracts. (10/21/2015) CFTC actions.