CFTC Grants No-Action Relief from Timing Requirements of CCO Annual Reports

The CFTC approved final amendments that specify the time period for filing annual Chief Compliance Officer Reports by futures commission merchants, swap dealers and major swap participants.

The CFTC requested comment on proposed amendments that apply to reports to be filed by futures commission merchants, swap dealers and major swap participants. The comment request was published in the Federal Register.

The CFTC requested comments on proposed amendments to provide futures commission merchants, swap dealers and major swap participants additional time to file chief compliance officer annual reports and to clarify the timing of filing requirements for "Comparable Annual Reports".

The CFTC Division of Swap Dealer and Intermediary Oversight clarified the necessary elements of reporting line requirements for chief compliance officers. It also outlined supervisory relationships that chief compliance officers may maintain with senior management other than the board or the senior officer.