CFTC To Extend No-Action Relief For Certain Swap Rules
Law360, New York (November 5, 2014, 3:26 PM EST) -- The U.S. Commodity Futures Trading Commission staff is set to extend the no-action relief on its requirement that swaps executed as part of certain package transactions trade on so-called swap execution facilities, Chair Timothy Massad announced Wednesday.
In a speech before the Futures Industry Association Expo 2014 in Chicago, Massad said the CFTC has been phasing in new requirements for transactions involving swaps that are part of “various types of packages.”
“We recognize the market needs a bit more time on certain remaining packages, and I expect the staff will issue the letter shortly,” he said.
The CFTC chair also said...
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