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ARTICLE · 17 JULY 2014

Financial Regulatory Developments Focus - 9 July 2014

A&O Shearman
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In this newsletter, we provide a snapshot of the principal European, US and global financial regulatory developments.

United StatesFinance and Banking
A&O Shearman
A&O Shearman
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In this newsletter, we provide a snapshot of the principal European, US and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructures, asset managers and corporates.

DERIVATIVES

CFTC Extends Time-Limited No-Action Relief for Swap Dealers and Major Swap Participants from Compliance with Valuation Reporting Obligations

On 1 July 2014, the US Commodity Futures Trading Commission's ("CFTC") Division of Market Oversight extended the relief provided in no-action letter 13-34. The no-action letter provides relief to Swap Dealers and Major Swap Participants from the obligation to report valuation data for cleared swaps as required by CFTC regulations. The no-action letter provides that the CFTC will not take enforcement action against a Swap Dealer or Major Swap Participant for failure to comply with such reporting requirements until 30 June 2014.

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