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.
The full text of the CFTC no-action letter is available at: http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/14-90.pdf.
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