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The Commodity Futures Trading Commission’s Division of Clearing and Risk (DCR) today issued a no-action letter providing that DCR will not recommend the CFTC take enforcement action against SHCH for failing to register as a derivatives clearing organization (DCO) as required by Section 5b(a) of the Commodity Exchange Act in light of SHCH’s recently submitted updated application for an exemption from registration as a DCO. Today’s no-action letter extends CFTC Letter 16-56, which expires July 31, 2022. The extension will last until the earlier of July 31, 2023 or the date on which the CFTC exempts SHCH from registration as a DCO. The letter states that DCR does not plan to issue further extensions.
Like CFTC Letter 16-56, today’s no-action letter is limited to SH
