On July 31st, the CFTC's Division of Clearing and Risk announced that the agency's cross-border swaps exemptive order, which delays the effectiveness of the CFTC's definition of "U.S. person," will end on October 9, 2013. On October 10, 2013, exemptive relief from the Clearing Requirement will no longer be available for an entity that is covered as a U.S. person under the CFTC's interpretive guidance and policy statement regarding the cross-border application of the swaps provisions of the Commodity Exchange Act, including certain collective investment vehicles organized outside of the United States. Additionally, on October 10, 2013, staff anticipates that certain transactions will be required to be submitted for clearing with a registered derivatives clearing organization. CFTC Notice.