Foreign facilitators of International Financial Institutions’ swap transactions will avoid CFTC action for failing to register. The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight announced that it does not recommend the CFTC take action against persons located outside of the US that facilitate swap transactions for International Financial Institutions with offices in the US for failure to register as an introducing broker or commodity trading advisor. (6/5/2015) CFTC press release.
Comments requested on DCO registration exemption petition. The CFTC has requested public comment on a petition by ASX Clear (Futures) Pty Limited for exemption from registration as a derivatives clearing organization (DCO). Comments are due by June 17, 2015. (6/3/2015) CFTC press release.
CFTC International Affairs Director changes roles. Sarah E. Josephson, the Director of the CFTC’s Office of International Affairs (OIA), will leave her position and return to her former role as Deputy Director in the Division of Clearing and Risk. (5/29/2015) CFTC press release.
Australian trading platform will apply for long-term relief from CFTC registration requirements. According to an announcement by the CFTC’s Divisions of Market Oversight and Swap Dealer and Intermediary Oversight, Yieldbroker Pty Limited intends to apply for relief and achieve compliance by October 15, 2015. If the application is approved, Yieldbroker will become the first Australian swaps trading platform that permits direct access to US persons to qualify for long-term no-action relief from the requirement to register as a swap execution facility (SEF) or designated contract market (DCM). In the interim, the Division of Market Oversight will not recommend enforcement action against Yieldbroker for failure to register as a SEF or DCM. (5/19/2015) CFTC press release.