RegAlert2014-08-22 | CFTC Staff Letter 14-109Added · Updated
CFTC Staff Letter 14-109: Extension of No-Action Relief for Southwest Power Pool
The CFTC Divisions extend no-action relief for Southwest Power Pool, Inc., its members, and market participants meeting the Appropriate Persons Requirement until February 28, 2015 or the date of final Commission action on the Amended Application, whichever is earlier. This relief covers failure to comply with certain Commodity Exchange Act provisions and regulations regarding transmission congestion rights, energy transactions, and operating reserve transactions offered under a FERC-approved tariff, excluding general anti-fraud and anti-manipulation provisions. The extension applies to Subject Transactions and related Integrated Marketplace activities during the period from the letter's issuance through the Termination Date.
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U.S. COMMODITY FUTURES TRADING COMMISSION
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CFTC Letter No. 14-109
No-Action
August 22, 2014
Division of Clearing and Risk
Division of Market Oversight
Division of Swap Dealer and Intermediary Oversight Joseph W. Ghormley Senior Attorney Southwest Power Pool, Inc. 201 Worthen Drive Little Rock, Arkansas 72223-4936 Re: Extension of Time-Limited No-Action Relief with Respect to Certain Commodity Exchange Act Provisions That May Apply to Southwest Power Pool, Inc. and/or Its Participants Dear Mr. Ghormley:
This is in response to your letter dated August 1, 2014 (“Request Letter”),1 to the Division of Market Oversight, Division of Swap Dealer and Intermediary Oversight, and the Division of Clearing and Risk (“Divisions”) of the Commodity Futures Trading Commission (“Commission” or “CFTC”) requesting an extension of the no-action relief that the Divisions granted to Southwest Power Pool, Inc. (“Southwest Power Pool”) in CFTC Letter 14-18 (the “No-Action Relief”).2 CFTC Letter 14-18, which expires on August 31, 2014, stated that the Divisions would not recommend that the Commission take enforcement action against Southwest Power Pool, its members, and certain market participants for failure to comply with certain provisions of the Commodity Exchange Act (“CEA” or “Act”) and the implementing regulations thereunder (“Commission regulations”), as applicable, 3 with respect to: (1) contracts, agreements and transactions for the purchase or sale of certain “transmission
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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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