The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk has issued a time-limited, no-action letter stating that it will not recommend that the CFTC take enforcement action against Shanghai Clearing House for failing to register as a derivatives clearing organisation, as laid out in the Commodity Exchange Act.
The relief is intended as an interim measure.
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The no-action relief applies to swaps accepted for clearing by Shanghai Clearing House and subject by the People’s Bank of ... (read more)