Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich April 1, 2013

The CFTC’s Division of Swap Dealer and Intermediary Oversight (DSIO) has issued a time-limited no-action relief for swap dealers and major swap participants. The no action relief concerns certain recordkeeping obligations under Part 23 of the Commission’s Regulations.

In a press release issued by the CFTC, the no-action letter states that it will delay until June 30, 2013 — the compliance date for several provisions. The no-action letter includes specifications on landline telephones that are not located in specific geographic locations, requirements that swap dealers and major swap participants maintain all transaction records and daily trading records, and use a Coordinated Universal Time (UTC) timestamp, and a requirement that swap dealers and major swap participants retain swap reccords at their principal places of business.

The no-action letter issued by the Division of Swap Dealer and Intermediary Oversight partially extends the relief that was provided in CFTC Letter No. 12-29, issued by the organization on October 26, 2012. The relief provided in the no-action letter is applicable to all swap dealers and major swap participants.

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