CFTC Staff No-Action Relief: Temporary Delay of Compliance Date for Part 22 Rules Due to Hurricane Sandy

In light of the damage caused by Hurricane Sandy, and the necessity for FCMs (whose operational personnel are focused on business continuity/disaster recovery efforts) to finalize testing for compliance with the Part 22 regulations ("Cleared Swaps"), the Division is taking a no-action position with respect to the collateral segregation requirements of Section 4d(f)(2) and, accordingly, 4d(f)(3), (4) and (6) of the CEA ("Statutory Segregation Requirements"), during the period from November 8 to 13, 2012. Cross-Reference(s): Commodity Exchange Act Sec. 4d(f) [Dealing by unregistered futures commission merchants or introducing brokers prohibited; duties in handling customer receipts; rules to avoid duplicative regulations].

See: CFTC Letter No. 12-30.See also: Press Release.