Contributor: Nathan Yeager

On April 10th, the CFTC approved a proposal to further extend the temporary exemptive relief provided in the July 14, 2011 order from July 16, 2012 to December 31, 2012. This grants energy market participants relief from two primary categories of regulation: Those that require no rulemaking, but are dependent on a definition that does - i.e. "swap", and; Those that remove prior exemptions from regulation such as agricultural commodities. Market participants should not expect relief from compliance dates for those rules already finalized with no further dependencies. For example, the Large Trader Reporting for Physical Commodity Swaps rule has already been finalized and is not dependent on any further definitions. As such, market participants should continue their efforts to meet established compliance dates.... read more