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CFTC Extends Temporary No-Action Relief for Swaps Between Eligible Affiliate Counterparties
12 November 2014
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The Division of Clearing and Risk of the CFTC has issued a time-limited no-action letter extending for another year its existing no-action relief from the “Outward-Facing Swaps Condition” of the “Inter-Affiliate Exemption” from clearing, thereby allowing “Eligible Affiliate Counterparties” to continue to comply with certain temporary alternative compliance frameworks in lieu of complying with the Outward-Facing Swaps Condition.
The Division of Market Oversight of the CFTC has issued a time-limited no-action letter extending for another year its existing no-action relief from the “trade execution requirement” for swaps between Eligible Affiliate Counterparties.
The relief in both letters expires on December 31, 2015.
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