In a no-action letter, the CFTC’s Market Participants Division said it will not recommend an enforcement action against a swap entity for its failure to disclose to certain counterparties the Pre-Trade Mid-Market Mark of certain swaps on the Secured Overnight Financing Rate under certain conditions.
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The NFA issued three notices covering regulatory obligations, recent amendments and rule interpretations for (i) FCM, FDM and IB Members, (ii) CPO and CTA Members and (iii) Swap Dealer Members.
Swap dealers at three different financial institutions settled separate CFTC enforcement actions for trade reporting and other compliance violations.
The CFTC said that it will not pursue enforcement actions in connection with certain swap rules related to transfers of swaps to recent FDIC-established "bridge" banks.
The CFTC Market Participants Division issued a new letter expanding the scope of relief from certain rules for "intended-to-be-cleared" swaps.