CFTC Issues No-Action Letters Reducing Regulatory Burden on SEFs and DCMs | Practical Law
The CFTC issued two no-action letters extending relief to swaps execution facilities (SEFs) and designated contracts markets (DCMs) from certain Title VII recordkeeping and reporting requirements, as well as from trade execution requirements when clerical errors cause a trade to be rejected for clearing. The amendments are designed to give SEFs greater flexibility in complying with CFTC rules.