RegAlert2012-12-10 | CFTC Staff Letter 12-47Added · Updated
CFTC Staff Letter 12-47: Time-Limited No-Action Relief for Certain FCMs from Regulation 3.3 Annual Report Requirements
The Division of Swap Dealer and Intermediary Oversight grants time-limited no-action relief to Covered Firms, defined as those registered as of June 4, 2012, and currently regulated by a U.S. prudential regulator or registered with the SEC, regarding their first Annual Report due on or before March 31, 2013. This relief permits these firms to submit reports that do not fully satisfy Commission Regulation 3.3(e) and (f), provided the reports include specific content such as an executive summary, a review of customer protection policies, and a CEO or CCO certification limited to the period from October 1, 2012, through the fiscal year end. The Annual Report must be electronically furnished to the Commission no later than 90 days after the Covered Firm’s fiscal year end, with no simultaneous filing requirement for firms also registered as securities brokers or dealers with the SEC.
CFTC published 6 documents in the last 30 days — get each new one by email the day it lands.
U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5977
Facsimile: (202) 418-5407 gbarnett@cftc.gov
Division of Swap Dealer and
Intermediary Oversight
Gary Barnett
Director
CFTC Letter No. 12-47
No-Action
December 10, 2012
Division of Swap Dealer and Intermediary Oversight Barbara Wierzynski General Counsel 2001 Pennsylvania Avenue NW Suite 600 Washington, DC 20006-1823 Re: Request for Time-Limited No-Action Relief for Certain Futures Commission Merchants from Compliance with Certain Requirements of Commission Regulation
3.3 Relating to Annual Reports by Chief Compliance Officers
Dear Ms. Wierzynski:
This letter is in response to your letter, dated November 20, 2012, to the Division of Swap Dealer and Intermediary Oversight (“Division”) of the U.S. Commodity Futures Trading Commission (“Commission”), on behalf of certain futures commission merchant (“FCM”) member firms of the Futures Industry Association (“FIA”) for whom you requested no-action relief with respect to compliance with certain requirements in Commission Regulation 3.3 relating to the Annual Report (defined below). Your request for no-action relief was limited to FCMs that (1) were registered with the Commission as of June 4, 2012; and (2) are currently regulated by a U.S. prudential regulator or registered with the U.S. Securities and Exchange Commission (“Covered Firms”). Regulatory Background
Section 732 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
(“Dodd-Frank Act”) 1 added Section 4d(d) of the Commodity Exchange Act (“Act”), 2 which requires each FCM to designate an individual to serve as its chief compliance officer (“CCO”), who must perform the duties and responsibilities required by Commission Regulations. Pursuant to that authority, the Commission has promulgated Commission Regulation 3.3, which, among
Read the rest free, and get an email when CFTC publishes again
Lineage: In force
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
More like this from CFTC
CFTC published 6 documents in the last 30 days. We email you each new one the day it's published.