RegAlert2013-03-29 | CFTC Staff Letter 13-05Added · Updated
CFTC Staff Letter 13-05: Extension of No-Action Relief for Certain RTOs, ISOs, and Participants
The Divisions extend time-limited no-action relief to Independent System Operators, Regional Transmission Organizations, and their market participants, allowing them additional time to comply with conditions of a prior Final Order. Specifically, relief is granted through April 30, 2013, for parties lacking required legal opinions, and through September 30, 2013, for parties with notification requirements in their tariffs and for certain market participants excluded from the original exemption scope. The Divisions will not recommend enforcement actions for failures to comply with specified Commodity Exchange Act provisions during these periods, provided the entities remain within the Final Order's scope and conditions. This relief does not limit the Commission's anti-fraud and anti-manipulation authority, and the Divisions retain discretion to modify or terminate the relief.
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U.S. COMMODITY FUTURES TRADING COMMISSION
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March 29, 2013
CFTC Letter No.13-05
No-Action
March 29, 2013
Division of Clearing and Risk
Division of Swap Dealer and Intermediary Oversight Division of Market Oversight Extension of Staff No-Action Relief with Respect to Certain CEA Provisions That May Apply to Certain RTOs, ISOs, and/or Their Participants On October 11, 2012, the Division of Clearing and Risk, the Division of Swap Dealer and Intermediary Oversight and the Division of Market Oversight (collectively, the “Divisions”) granted time limited no-action relief to certain Independent System Operators and Regional Transmission Organizations (collectively, the “Requesting Parties”) and their market participants. 1 As discussed therein, the Commodity Futures Trading Commission (the “Commission”) had proposed to grant, in part, a request from the Requesting Parties for exemptive relief for certain transactions offered or sold pursuant to their tariffs or protocols. In a letter dated March 22, 2013, the Requesting Parties requested that the Divisions extend the time limited no-action relief. On March 28, 2013, the Commission approved a final order pursuant to 4(c)(6) of the Commodity Exchange Act (“CEA”) (the “Final Order”) 2 to exempt, subject to certain conditions and limitations contained therein, contracts, agreements, and transactions for the purchase or sale of the limited electric energy-related products that are specifically described within the final order from the provisions of the CEA and Commission regulations, with the exception of the Commission’s general anti-fraud and anti-manipulation authority, and scienter-based prohibitions, under CEA sections 2(a)(1)(B), 4(d), 4b, 4c(b), 4o, 4s(h)(1)(A), 4s(h)(4)(A), 6(c), 6(d), 6(e), 6c, 6d, 8, 9, and 13 of the Act and any implementing regulations promulgated under these sections including, but not limited to Commission regulations 23.410(a) and (b), 32.4, and
part 180 (the “Enforcement Provisions”)
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This document amends: CFTC Staff Letter 12-11: No-Action Relief for RTOs, ISOs, and Participants Regarding Certain CEA Provisions
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
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