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ARTICLE · 15 APRIL 2013

CFTC Division Issues Letter Extending Relief For Commodity Pool Operators Of Certain Securitization Vehicles

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The Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission has recently issued CFTC Letter No. 13-07.

United StatesFinance and Banking
Alice Yurke
Alice Yurke
Anthony Perricone
Anthony Perricone
Joel Telpner
Joel Telpner
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On March 29, 2013, the Division of Swap Dealer and Intermediary Oversight (the "Division") of the Commodity Futures Trading Commission (the "Commission") issued CFTC Letter No. 13-07. CFTC Letter 13-07 provides time-limited no-action relief for certain securitization vehicles regarding compliance with Commission regulations pertaining to the registration of operators of securitization vehicles that utilize swaps.

CFTC Letter No. 13-07 addresses the circumstances under which operators of securitization vehicles that cannot satisfy the criteria for no-action relief under two previously issued letters (CFTC Letter No. 12-14 and CFTC Letter No. 12-45, issued by the Division on October 11, 2012 and December 7, 2012, respectively). In CFTC Letter No. 12-45, the Division provided time-limited no-action relief until March 31, 2013 for the operator of a securitization vehicle not otherwise afforded relief in that letter or in CFTC Letter No. 12-14 for failure to register as a

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