Commodity Futures Trading Commission Issues No-Action Relief to Swap Execution Facilities from Timing Requirements for Certain Reporting

The Commodity Futures Trading Commission Division of Market Oversight has issued no-action relief to Swap Execution Facilities and their chief compliance officers from certain timing requirements regarding annual compliance reports and fourth quarter financial reports.  SEF CCOs are required to file the compliance report with the CFTC no later than 60 calendar days after the end of the SEF’s fiscal year, and a SEF must concurrently file its fourth quarter financial report with the CFTC within that same time frame.  Multiple SEFs have cited difficulty complying with CFTC time constraints.  The relief provides SEFs and their CCOs an additional 30 calendar days to concurrently file the compliance report and fourth quarter financial report with the CFTC, such that the reports will now be due no later than 90 calendar days after the end of the SEF’s fiscal year.

The relief, issued under CFTC staff letter 17-61, is set to expire November 30, 2020.

View the Press Release.

View CFTC Staff Letter 17-61.