In this issue:
- Regulatory Capital
- Credit Ratings
- Financial Market Infrastructure
- Financial Services
- Consumer Protection
- Excerpt from Derivatives:
CFTC Extends Time-Limited No-Action Relief for Swap Dealers and Major Swap Participants from Compliance with Valuation Reporting Obligations -
On 1 July 2014, the US Commodity Futures Trading Commission’s (“CFTC”) Division of Market Oversight extended the relief provided in no-action letter 13-34. The no-action letter provides relief to Swap Dealers and Major Swap Participants from the obligation to report valuation data for cleared swaps as required by CFTC regulations. The no-action letter provides that the CFTC will not take enforcement action against a Swap Dealer or Major Swap Participant for failure to comply with such reporting requirements until 30 June 2014.
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