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CFTC's Massad supports no-action relief for Shanghai Clearing House

( May 31, 2016, 22:30 GMT | Official Statement) -- MLex Summary: Timothy Massad, head of the US Commodity Futures Trading Commission, on Tuesday said he supported a CFTC staff recommendation not to take an enforcement action against Shanghai Clearing House for failing to register with the agency. The relief is an interim measure as the China-based clearing organization intends to seek a permanent order exempting it from registration with respect to certain mandatory swaps clearing, he said. "I have been very focused strengthening our relationship with Chinese regulators, particularly given the importance of the Chinese markets to the markets that we regulate and to the global economy," he said. "Today’s announcement is an important step in that regard."Statement follows in full....

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