Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: DSIO

NFA Publishes Information For CTAs Using Third-Party Recordkeeping

Posted in CFTC
On June 30, the National Futures Association (NFA) published Notice to Members I-17-11, establishing an electronic process for a registered commodity trading advisor (CTA) to notify the NFA where the CTA uses a third-party recordkeeper. This notice is effected through the NFA’s electronic Exemptions System by claiming a “4.7(c)(2)” or “4.33” exemption, as applicable, and… Continue Reading

CFTC Extends Relief to CTAs With Third-Party Recordkeepers

Posted in CFTC, Derivatives
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) has issued exemptive relief to commodity trading advisors (CTAs) from the requirement to keep records under CFTC Regulations 4.7(c)(2) and 4.33 at the CTA’s main business office. As provided in the exemptive letter, a CTA may use a third-party recordkeeper so long… Continue Reading

CFTC Extends Previously Granted No-Action Relief for Swap Dealers Complying With EU Requirements

Posted in CFTC, Derivatives
On April 18, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued No-Action Letter 17-22, which extends relief previously granted under CFTC No-Action Letter 17-05. CFTC No-Action Letter 17-05 allowed certain swap dealers to substitute compliance with the non-centrally cleared OTC derivative margin requirements applicable in the European Union (the… Continue Reading

CFTC Releases No-Action Letter Regarding the Transfer of Customer-Owned Securities by FCMs to Foreign Brokers

Posted in CFTC
On April 11, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediate Oversight (DSIO) made publicly available No-Action Letter No. 16-88. This letter grants no-action relief to a futures commission merchant (FCM) intending to deposit customer-owned securities in an individual client account (ISA) with a United Kingdom affiliate (Affiliate) for purposes of margining… Continue Reading

CFTC Issues Advisory Regarding Suspicious Activity Reporting and Economic Sanctions Programs

Posted in CFTC, Derivatives, Dodd-Frank Developments
On July 6, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) published Staff Advisory No. 16-60 (Advisory), which reminds futures commission merchants (FCMs) and introducing brokers (IBs) of their obligations to report certain kinds of suspicious activities.… Continue Reading

CFTC Issues Residual Interest Deadline Report

Posted in CFTC, Derivatives
On May 13, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued the Residual Interest Deadline for Futures Commission Merchants Report (Report). The Residual Interest Deadline is the time by which a futures commission merchant (FCM) must assure that it is holding in its customer segregated accounts a sufficient amount… Continue Reading

CFTC Grants Relief to Certain Non-U.S. Intermediaries

Posted in CFTC, Derivatives
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) has granted no-action relief to certain intermediaries located outside the United States. As background, CFTC Regulation 3.10(c)(3)(i) provides an exemption from registration as a commodity pool operator (CPO), commodity trading advisor (CTA) or introducing broker (IB) to persons located outside the United… Continue Reading

CFTC Proposes Alternative to Fingerprinting Requirement for Foreign Individuals

Posted in CFTC, Derivatives, Dodd-Frank Developments
The Commodity Futures Trading Commission has proposed to amend Regulation 3.21 to provide an exemption for the fingerprinting requirements for an individual who is a principal or associated person of a registrant, if such individual has not resided in the United States since reaching the age of 18 years. Under the proposal, the fingerprint card… Continue Reading

CFTC Staff Exempts Certain CTAs From Filing Form CTA-PR

Posted in CFTC, Financial Markets
On July 21, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) granted exemptive relief to certain commodity trading advisors (CTAs) from the requirement in CFTC Regulation 4.27(c) to file a Form CTA-PR annually. The relief extends to CTAs that are registered with the CFTC but do not direct any trading… Continue Reading