On April 25, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight issued No-Action Letter No. 14-60, which extends relief for commodity trading advisors (CTAs) that are members of a swap execution facility (SEF) or designated contract market (DCM) from the oral communications recordkeeping requirement of CFTC Regulation 1.35(a). Letter No. 14-60 extends previous relief for CTAs issued in CFTC Letters Nos. 13-66 and 14-33 that would have expired on May 1. A CTA that is a member of a SEF or DCM will now have until December 31, 2014 to comply with the requirement to record oral communications in connection with the execution of swap transactions. 

CFTC Letter No. 14-60 is available here.