On November 24, the U.S. Commodity Futures Trading Commission issued a no-action letter to extend, by up to a year, current relief from certain swap reporting rules applicable to certain non-U.S. swap dealers, including those established in Canada.
The relief to Canadian dealers, originally provided in CFTC Staff Letter No. 13-75 and set to expire no later than December 1, 2014, has now been extended until the earlier of (i) 30 days following the issuance of a comparability determination with respect to swap data reporting rules in Canada, and (ii) December 1, 2015.
For more information, see CFTC Staff Letter No. 14-141.