The CFTC announced that Division of Enforcement Director David Meister will depart from the agency in October 2014. Gretchen L. Lowe has been appointed Acting Director of the Division. Ms. Lowe is currently the Division of Enforcement's Chief Counsel. See: CFTC Announcement of David Meister's Departure; CFTC Announcement of Gretchen Lowe's Appointment.

The CFTC Division of Market Oversight issued a time-limited no-action letter providing relief for swap execution facilities ("SEFs") and designated contract markets ("DCMs") from the one-business-day product review period requirement of CFTC Rule 40.2(a)(2) ("Listing Product for Trading by Certification") for newly listed swap products. The letter states that the CFTC believes the one-day review period for product submissions could impede the ability of SEFs and DCMs to smoothly migrate swap products to SEFs due to the large number of swap product filings expected before the October 2, 2013

The CFTC Division of Swap Dealer and Intermediary Oversight issued a no-action letter providing relief for persons engaging in floor trader activities for purposes of making calculations under the Swap Dealer definition. The CFTC will not take action against an entity for failure to include, in its calculation of the aggregate gross notional amount of swaps connected with its swap dealing activity for purposes of CFTC Rule 1.3(ggg)(4) (" De minimis exception"), a swap that is submitted for clearing to a registered derivatives clearing organization . The letter also includes conditions that

The CFTC Divisions of Clearing and Risk and Market Oversight issued No-Action Letter 13-62, providing time-limited and specific relief for futures commission merchants ("FCMs") from the requirement to comply with CFTC Rule 1.73(a)(2) ("Clearing FCM Risk Management"), and for temporarily registered swap execution facilities ("SEFs") from the requirement to comply with CFTC Rule 37.702(b) ("General Financial Integrity"). In short, the letter provides that FCMs are not required to guarantee clearance of trades sent to an SEF where the technology and rules are not in place to do so. In order for

The CFTC's Division of Market Oversight issued an amendment to CFTC No-Action Letter 13-55 which provided temporarily registered swap execution facilities ("SEFs") with relief from certain swap data reporting requirements of CFTC Rules Part 43 ("Real-Time Public Data Reporting") and Part 45 ("Swap Data Recordkeeping and Reporting Requirements"). The amended letter changes three references in the original letter from primary economic terms ("PET") data to reference "creation" data. See: CFTC No-Action Letter 13-55 (Amended); CFTC Press Release. Related News: Two CFTC No-Action Letters (13-55