CFTC Extends No-Action Relief to Four Foreign Clearing Organizations (CFTC Letters 14-148, 14-149, 14-150 and 14-151)

The CFTC Division of Clearing and Risk ("DCR") issued extensions of no-action relief to four foreign clearing organizations: ASX Clear (Futures) Pty Limited, Clearing Corporation of India Ltd., Korea Exchange, Inc. and OTC Clearing Hong Kong Limited.

Each extension letter states that the DCR will not recommend enforcement action against that particular clearing organization for failing to register as a derivatives clearing organization ("DCO"), pursuant to CEA Section 5b(a).

The relief is effective until the earlier of December 31, 2015, or the date upon which the CFTC exempts the clearing organization from registration as a DCO.

See: CFTC Letter 14-148; CFTC Letter 14-149; CFTC Letter 14-150; CFTC Letter 14-151; CFTC Press Release. Related news: CFTC Issues No-Action Letter Delaying Temporarily the Registration of an Australian Clearing Organization (CFTC Letter 14-07) (with Lofchie Comment) (February 6, 2014); CFTC Issues No-Action Letter for Clearing Corporation of India Ltd. (CFTC Letter 14-107) (with Zwirb Comment) (August 19, 2014); CFTC Issues No-Action Letter to Korea Exchange (CFTC Letter 14-87) (June 26, 2014); CFTC Issues No-Action Relief to OTC Clearing Hong Kong Limited for Failing to Register as a DCO (CFTC Letter 14-68) (May 7, 2014).