CFTC Extends Relief from Oral Communication Recording Requirement

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight and the Division of Market Oversight issued No-Action Letter No. 13-77, which extends the oral communications recording compliance date for commodity trading advisors (CTAs) that are members of a swap execution facility (SEF). A CTA that is a member of an SEF will now have until May 1, 2014 to comply with the requirement to record oral communications under CFTC Regulation 1.35(a). The requirement would otherwise have been effective December 21, 2013. 

CFTC Letter No. 13-77 is available here.

Topics:  Audio Recording, CFTC, CTA, No-Action Letters, Oral Communications, SEFs

Published In: Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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