CFTC Staff Letter 12-69: Extension of Temporary Registration Relief for Certain Associated Persons

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. 12-69
No-Action
December 28, 2012
Division of Swap Dealer and Intermediary Oversight Staff No-Action Relief: Extension of Temporary Registration Relief under CFTC Staff Letter No. 12-15 for Certain Associated Persons By letter dated October 11, 2012 (“CFTC Staff Letter No. 12-15”), and as is set forth more fully therein, the Division of Swap Dealer and Intermediary Oversight (“Division”) of the Commodity Futures Trading Commission (“CFTC” or “Commission”) stated it would not recommend that the Commission commence an enforcement action against certain persons for failure to be registered under the Commodity Exchange Act (“CEA”) 1 by October 12, 2012 (“Temporary Registration Relief”). 2 Among the persons to whom the Division provided this relief are persons who come within the definition of the term “associated person” (“AP”) of a futures commission merchant (“FCM”), introducing broker (“IB”), commodity pool operator (“CPO”), or commodity trading advisor (“CTA”) and are required to register with the Commission as such solely by virtue of their involvement with (i) swaps or (ii) the transition of certain contracts (“ICE/NYMEX Contracts”) by the Intercontinental Exchange, Inc. and the New York Mercantile Exchange to clearing as commodity futures and options transactions (collectively, “The APs”). The relief applicable to The APs (“The AP Temporary Registration Relief”) was subject to compliance with certain conditions, including that on or before December 31, 2012, the employing FCM, IB, CPO or CTA file a Form 8-R and a fingerprint card for The AP. 3