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Nov 12, 2014
"Many times when a regulator issues a no-action letter, the relief granted is industry-wide. This is not a case like that. But, of course, any firm that has a similar fact situation will want similar relief, and I expect the firm would be able to get the same treatment. And then at some point, if enough firms request the relief, the CFTC, as a commission, would likely propose a broader market-wide exemption or rule amendment."
- Steven Lofchie comments in Risk.net on a no-action letter issued by the U.S. Commodity Futures Trading Commission (CFTC) to Southwest Airlines on November 6 that may herald a broader shift in the CFTC's policy of requiring commodity derivatives end-users to report their swap trades in real time.
Linda Swartz, Jason Schwartz, Mark Howe, Adam Blakemore, Gary Silverstein
Joel Mitnick, Monica Martin, Douglas Gansler
Jason Halper, Nathan Bull, Jared Stanisci, Sara Bussiere, Audrey Curtis
