CFTC Issues No-Action Relief to FCMs, SDs, and MSPs Extending Time to File CCO Annual Report (CFTC Letter 15-15)

The CFTC Division of Swap Dealer and Intermediary Oversight (the "Division") issued a no-action letter to futures commission merchants, swap dealers, and major swap participants granting an additional 30 days to provide annual chief compliance officer ("CCO") reports to the CFTC.

CFTC Rule 3.3(f) requires registrants to give the CFTC their CCO annual report not more than 60 days after the end of their fiscal year. The no-action letter grants an additional 30 days, and further states that the relief will remain in effect until the adoption of a rule or rule amendment that modifies the timing requirements of Rule 3.3(f)(2). Additionally, the letter states that the Division retains the authority to condition further, modify, suspend, terminate, or otherwise restrict the terms of the no-action relief provided, in its discretion.

See: CFTC Letter 15-15; CFTC Press Release.