Time-Limited No-Action Relief: Swap Dealers and Major Swap Participants Regarding Certain Recordkeeping Obligations under Part 23 of the Commission's Regulations (Letter No. 12-29)


On October 26, 2012, the Division of Swap Dealer and Intermediary Oversight (the "Division") issued Letter 12-29 in response to a letter sent on behalf of the Securities Industry and Financial Markets Association’s member firms and other swap dealers and major swap participants requesting relief from certain recordkeeping requirements of Subpart F to Part 23 of the Commodity Futures Trading Commission's ("CFTC") regulations.

Pursuant to the no-action letter, the Division will not recommend enforcement action against a person prior to March 31,2012 for failure to be fully compliant with the requirements that swap dealers and major swap participant do the following...

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Published In: Administrative Agency Updates, 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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