Key takeaways:

• The CFTC has granted temporary no-action relief from certain registration requirements where the requirement arises solely from the swaps activity of a person or from the person being involved with the transition of ICE or NYMEX contracts to clearing as commodity futures and options transactions.
• This temporary no-action relief applies to (1) persons coming within the definition of introducing broker ("IB"), commodity pool operator ("CPO"), commodity trading advisor ("CTA"), floor broker or floor trader and to (2) any associated person of any IB, CPO, CTA or futures commission merchant.
• Additionally, the CFTC has granted no-action relief to swap dealers ("SDs") and major swap participants ("MSPs") satisfying certain conditions from the prohibition against permitting any person associated with the SD or MSP who is subject to statutory disqualification to be involved in effecting swaps on behalf of the SD or MSP if the SD or MSP knew or should have known of such disqualification.