The CFTC Division of Swap Dealer and Intermediary Oversight granted time-limited no-action relief to swap dealers that are subject to both U.S. and European margin requirements for uncleared swaps.
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SEC Acting Chair Michael S. Piwowar directed Commission staff to reconsider the appropriateness of the 2014 guidance on the SEC Conflict Minerals Rule in light of (i) the expiration of the temporary transition period provided for in the Rule, and (ii) ongoing litigation concerning a Court of Appeals' determination that portions of the rule violated the First Amendment.
The MSRB solicited applications for vacancies on its Board of Directors. Applications will be accepted through February 17, 2017.
ISDA CEO Scott O'Malia warned that there might not be sufficient time for dealers and their clients to meet the March 1, 2017 variation margin deadline for non-cleared derivatives.
The CFTC Division of Swap Dealer and Intermediary Oversight granted certain CPOs exemptive relief from requirements to obtain participant waivers. The relief allows the CPOs to provide unaudited financial statements in conjunction with Annual Reports when liquidating a series of an SEC-registered investment company.