CFTC’s Division of Clearing and Risk issues temporary compliance delay due to Hurricane Sandy
Due to the damage caused by Hurricane Sandy, the staff of the Commodity Futures Trading Commission’s Division of Clearing and Risk has issued a no-action letter to temporarily delay the compliance date for the Commission’s Part 22 rules, which set forth segregation requirements for cleared swaps and associated cleared swaps customer collateral, from 8 November, 2012 to 13 November, 2012.
The Division’s temporary delay of the compliance date for Part 22 regulations is made in light of the necessity for Futures Commission Merchants, many of which have operational personnel focused on business continuity/disaster recovery efforts, to finalise testing for compliance with these regulations.
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