CFTC Approves Final Regulations Governing Clearing Exemption for Swaps Between Certain Affiliated Entities and Provides No-Action Relief
CFTC Approves Final Regulations Governing Clearing Exemption for Swaps Between Certain Affiliated Entities and Provides No-Action Relief From Certain Reporting Requirements for Certain Inter-Affiliate Swaps
On April 1, 2013, the Commodity Futures Trading Commission ("CFTC") approved a final rule (Regulation 50.52) exempting swaps between certain affiliated entities from the clearing requirements of the Commodity Exchange Act ("CEA") and CFTC regulations. This rule will become effective on June 10, 2013. Additionally, on April 5, 2013, the CFTC issued a no-action relief letter, having immediate effect, exempting parties from certain reporting requirements in connection with intra-group swaps, subject to certain conditions discussed below.
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