United States:
CFTC Issues No-Action Letter To Swap Dealers To Extend Collateral Rule Deadline Due To Limitations With Custodial Accounts
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On September 1, 2016, the U.S. Commodity Futures Trading
Commission's ("CFTC") Division of Swap Dealer and
Intermediary Oversight announced that it "issued a
time-limited, no-action letter stating that it will not recommend
an enforcement action against a swap dealer subject to the
September 1, 2016 compliance date for the CFTC's uncleared swap
margin rules, subject to certain conditions, for failing to fully
comply with the custodial arrangement requirements of CFTC
regulation 23.157 prior to October 3, 2016." Press release.
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