CFTC DTCC Data Repository LLC Reporting & Brexit-Related Market Relief

CFTC Workers Extends Current Brexit-Associated Reduction to Present Market Certainty

On November 24, the Commodity Futures Buying and selling Fee’s (CFTC) Market Contributors Division (MPD) and Division of Market Oversight (DMO) introduced an extension of two beforehand granted no-action letters to supply better certainty to the worldwide market in reference to the withdrawal of the UK (UK) from the European Union (EU). CTFC Workers Letter 20-39 stipulates that MPD and DMO will present momentary aid to make sure the continued availability of substituted compliance and regulatory aid below CFTC comparability determinations and exemptive orders the CFTC initially issued for EU entities. CTFC Workers Letter 20-40 ensures the omnibus aid supplied by MPD to EU entities in sure workers letters continues to be out there for UK entities following the tip of the transition interval.

The press launch is accessible right here.

CTFC Workers Letter 20-39 is accessible right here.

CTFC Workers Letter 20-40 is accessible right here.

CFTC Workers Grants Non permanent Reduction to DTCC Information Repository LLC and Associated Entities from Reporting Necessities

On November 24, the Commodity Futures Buying and selling Fee’s (CFTC) Division of Information (DOD) granted momentary no-action aid to DTCC Information Repository LLC (DDR) from sure necessities of the swaps knowledge repository (SDR) guidelines in Half 49 of the CFTC’s laws. DDR requested aid as a result of it deliberate to implement revisions to its infrastructure and purposes according to latest amendments to the CFTC’s reporting guidelines previous to the efficient date of such guidelines. The aid stipulates that DOD won’t suggest the CFTC take an enforcement motion in opposition to DDR for:

failure to just accept and promptly report sure swaps and swap knowledge fields as required by CFTC Regulation 49.10(a); or

failure to substantiate the accuracy of knowledge by notifying each swap counterparties as required by CFTC Regulation 49.9(a)(2) and Half 49.11(a) and (b).

The aid additionally states that DOD won’t suggest that the CFTC take an enforcement motion in opposition to a registered entity or swap counterparty reporting swaps knowledge to DDR for failure to report sure swap knowledge fields as required by the swaps knowledge reporting guidelines in Components 45 and 46 of the CFTC’s laws.

This momentary aid expires 60 days following publication of the SDR and swaps knowledge reporting last guidelines within the Federal Register. The ultimate guidelines had been printed within the Federal Register on November 25.

The press launch is accessible right here.

CTFC Workers Letter 20-38 is accessible right here.