The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued an extension of the time-limited no-action relief provided in CFTC Staff Letter 17-05 from May 8, 2017 until November 7, 2017. The relief extended today states that DSIO will not recommend an enforcement action against a swap dealer (SD) that is subject to, and in compliance with, the margin requirements for non-centrally cleared OTC derivatives in the European Union (EMIR RTS) for failure to comply with the CFTC’s final margin rule (Final Margin Rule).
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