Regulatory Alerts2013-01-07 | 2012-31736Final Exemptive Order Regarding Compliance With Certain Swap Regulations
The Commodity Futures Trading Commission issued a final exemptive order granting temporary conditional relief from specific provisions of the Dodd-Frank Act's swap regulations to facilitate an orderly transition to the new regulatory framework. Under this order, non-U.S. persons registering as swap dealers or major swap participants may delay compliance with certain entity-level requirements, while non-U.S. swap dealers, major swap participants, and foreign branches of U.S. entities may postpone compliance with designated transaction-level requirements. The time-limited relief, effective December 21, 2012, and expiring July 12, 2013, incorporates modifications and clarifications based on public comments to balance market continuity with the Commission's statutory oversight duties.