NFA Reminds SDs and MSPs to File CCO Annual Reports; CFTC Announces Firms May Submit Reports Through WinJammer (Notice I-15-05)
The NFA issued a notice informing swap dealers ("SDs") and major swap participants ("MSPs") that, beginning with the Chief Compliance Officer ("CCO") Annual Reports for the fiscal year ended October 31, 2014, SDs and MSPs are required under NFA Compliance Rule 2-49 ("Swap Dealers and Major Swap Participants Regulations") to submit the CCO Annual Report to the NFA and the CFTC. In a separate press release, the CFTC announced that these CCO Annual Reports required under CFTC Rule 3.3(f) ("Chief Compliance Officer") should be submitted through the WinJammerTM system.
Under CFTC No-Action Letter 14-154, any firm with a fiscal year ending on or before January 31, 2015 has 90 days from the firm's fiscal year-end to file this year's report.
Any firm unable to meet the 90-day deadline is permitted to file the report no later than 120 days after its fiscal year-end, provided that by the 90-day deadline, the firm informs the CFTC and the NFA of any material non-compliance events that occurred during the fiscal year that are the subject of the report.
All reports due for fiscal years ending after January 31, 2015 must be filed within a 60-day period.
See: NFA Notice I-15-05; CFTC Press Release. Related news: CFTC Issues Staff Advisory and No-Action Relief Regarding CCO Annual Report (CFTC Letters 14-153 and 14-154) (with Patel Comment) (December 22, 2014); NFA Amends Rule Regarding New Risk Exposure Report Filing Requirement for SDs and MSPs (NFA Notice I-14-20) (August 22, 2014).