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On June 9, at the request of the Futures Industry Association, the International Swaps and Derivatives Association, and the Securities Industry and Financial Markets Association, the Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) and Division of Market Oversight (DMO) announced that they have extended no-action relief that was set to expire on June 30. 
Continue Reading CFTC Extends No-Action Relief to Registrants In Response to COVID-19 Pandemic

On March 17, the Commodity Futures Trading Commission (CFTC) adopted a final rule extending the compliance schedule for uncleared margin requirements to September 1, 2021 for market participants with the smallest uncleared swaps portfolios, i.e., Phase 5.
Continue Reading CFTC Extends Relief for Initial Margin Requirements for Uncleared Swaps

On March 12, the National Futures Association (NFA) issued Notice I-20-11, reminding swap dealer (SD) Members of their regulatory obligations, specifically with respect to Commodity Futures Trading Commission (CFTC) Regulation 23.603 regarding business continuity and disaster recovery plans. In accordance with such regulatory obligations, the CFTC expects to be notified if a SD implements a…

On February 20, the Commodity Futures Trading Commission (CFTC) unanimously approved two proposed rules to revise its regulations relating to swap data reporting, dissemination and public reporting requirements for market participants.
Continue Reading CFTC Approves Revisions to Swap Data Reporting, Dissemination and Public Reporting Requirements for Market Participants

On February 10, the National Futures Association (NFA) issued a series of Notices to Members containing an overview of the educational resources available to Members in different registration categories to assist them in meeting their regulatory obligations, identifying common deficiencies noted during NFA examinations and providing links to other Notices regarding recent amendments to NFA Rules and Interpretive Notices applicable to certain Members.
Continue Reading NFA Provides Information to Assist Members in Meeting Their Regulatory Obligations

On January 27, the National Futures Association (NFA) issued a notice to members as a reminder that the effective date for NFA’s Swaps Proficiency Requirements (Requirements) is January 31, and that the Requirements must be completed by applicable individuals by the January 31, 2021 compliance date. The Requirements are now available online here.
Continue Reading NFA’s Swaps Proficiency Requirements Effective and Available Online