U.S. CFTC Letter Regarding No Enforcement Action on Event Contract Data Report

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Golden Finance reports that on May 14, the U.S. CFTC’s Market Oversight Division and Clearing and Risk Division issued a “No Enforcement Action Letter,” providing regulatory exemptions for data reporting and recordkeeping requirements related to event contracts. According to the statement, CFTC staff will not recommend enforcement actions against designated contract markets (DCMs), derivatives clearing organizations (DCOs), and their participants, even if they fail to comply with some recordkeeping requirements related to swap transactions or do not report full collateralized event contract trading data to the swap data repository.
The CFTC stated that this decision is in response to requests from multiple exchanges and clearinghouses that list and clear event contracts. The regulatory agency expects to receive similar applications in the future, including new requests due to DCM license changes, DCO adjustments, and other reasons.
Additionally, the CFTC said that institutions planning to list or clear similar event contracts in the future can apply for the same “No Enforcement Action” exemption. The regulator believes this move will streamline approval processes and ensure consistent treatment for market participants.

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