CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Corrected No-Action Letter on Relief from Certain External Business Conduct Standards and Documentation Standards
06/27/2013 10:23 PM EDT
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) today issued an amended a no-action letter providing relief from certain duties imposed on swap dealers (“SDs”) and major swap participants (“MSPs”) pursuant to the Commission’s Business Conduct Standards with Counterparties, as well as certain documentation requirements imposed on SDs and MSPs pursuant to Commission regulation § 23.504, when executing swaps with the intention to clear contemporaneously with execution.