CFTC Staff Letter 12-15: Registration Relief for Certain Persons

The Division of Swap Dealer and Intermediary Oversight provides temporary registration no-action relief to persons required to register solely due to swaps activity or the transition of ICE/NYMEX contracts, provided they file a registration application with the National Futures Association by December 31, 2012. This relief terminates upon registration or five days after notice of potential disqualification. Additionally, the Division grants no-action relief to swap dealers and major swap participants, allowing them to permit statutorily disqualified associated persons to effect swaps if the National Futures Association confirms it would have granted registration.

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Division of Swap Dealer and Gary Barnett
Intermediary Oversight Director
U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-6700
Facsimile: (202) 418-5528 gbarnett@cftc.gov
CFTC Letter No. 12-15
No-Action
October 11, 2012
Division of Swap Dealer and Intermediary Oversight Staff No-Action Positions: Registration Relief for Certain Persons
I. Introduction
The Commodity Exchange Act (“CEA”) 1 and the regulations of the Commodity Futures Trading Commission (“Commission” or “CFTC”) issued thereunder 2 require that a person who comes within the definition of any of the following terms must be registered with the Commission prior to engaging in business as such: introducing broker (“IB”), commodity pool operator (“CPO”), commodity trading advisor (“CTA”), floor broker (“FB”) or floor trader (“FT”). 3 Additionally, persons who come within the definition of the term “associated person” (“AP”) of a futures commission merchant (“FCM”), IB, CPO, or CTA must be registered with the Commission before engaging in business as such. 4 As is explained below, by this letter, the Division of Swap Dealer and Intermediary Oversight (“Division”) is providing temporary registration no-action relief where such persons are required to register solely by virtue of their involvement with swaps (“Swap Persons”) 5 or with the transition of certain contracts by the

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Timeline

Amended 1 time · last 2012-12-28

2012-12-28CFTCCFTC Staff Letter 12-69: Extension of Temporary Registration Relief for Certain Associated Personsamends

Source: Commodity Futures Trading Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works