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01 July 2015
On June 5 2015 the US Commodity Futures Trading Commission (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued no-action relief from introducing broker and commodity trading adviser registration to persons located outside the United States that facilitate swap transactions for international financial institutions that have offices in the United States. The relief granted by the DSIO is consistent with prior treatment of international financial institutions, including for purposes of the swap dealer definition and mandatory clearing requirements. For purposes of the no-action letter, and in accordance with prior CFTC policy, the definition of 'international financial institution' is limited to certain specified institutions and organisations, including:
CFTC Staff Letter 15-37 is available at www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/15- 37.pdf.
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