CFTC Staff Letters
CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.
Description | |
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20-17 | Letter Type: Advisories Division: COM, DMO, DCR, DSIO Regulation Parts: 1.11, 1.55, 1.73, 38, 39.13 Tags: DCM, DCO, FCM, COVID-19, Risk Management, Market Integrity Issuance Date: Description: DMO, DCO, and DSIO issue this advisory to remind DCMs, FCMs, and DCOs that they are expected to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing. |
20-16 | Letter Type: No-Action Division: DSIO Regulation Parts: 1a(12)(C), 3.10, 3.12 Tags: COVID-19, Associated Persons, Fingerprinting Issuance Date: Description: No-action position in response to the COVID-19 pandemic for persons required to submit fingerprints in connection with applying for registration as an associated person or being listed as a principal of a registrant |
20-15 | Letter Type: No-Action Division: DSIO Regulation Parts: 1.17 Tags: FCM, IB, COVID-19, Minimum financial requirements Issuance Date: Description: No-action positions for futures commission merchants and introducing brokers to address net capital treatment of covered loans under the CARES Act in response to the COVID-19 pandemic. |
20-14 | Letter Type: No-Action Division: DSIO Regulation Parts: 23.151 Tags: Margin, SD, ESM Issuance Date: Description: Revised time-limited no-action position with respect to uncleared swaps with the European Stability Mechanism under Commission regulation 23.150-161. |
20-13 | Letter Type: No-Action Division: DCR Regulation Parts: 2(h), 2(h)(1), 50.2, 50.4 Tags: Clearing, Clearing Requirement, Swaps, ESM Issuance Date: Description: Extended no-action relief for the European Stability Mechanism from the swap clearing requirement in Section 2(h)(1) of the Commodity Exchange Act and Commission regulations 50.2 and 50.4. |
20-12 | Letter Type: No-Action Division: DSIO Regulation Parts: 30.5 Tags: Registration, COVID-19, Foreign Broker Issuance Date: Description: No-action position for foreign brokers exempt pursuant to Commission regulation 30.5 to handle U.S. futures market orders in response to the COVID-19 pandemic |
20-11 | Letter Type: No-Action Division: DSIO Regulation Parts: 4.7(b)(2), 4.7(b)(3), 4.22, 4.27 Tags: Commodity Pool, CPO, Pool Participant, Reporting, COVID-19 Issuance Date: Description: No-action positions for commodity pool operators in response to the COVID-19 pandemic |
20-10 | Letter Type: No-Action Division: DSIO Regulation Parts: 1.3 Tags: MSP, COVID-19, Insured depository institution Issuance Date: Description: No-action position for excluding certain commodity swaps from inclusion in the major swap participant registration threshold calculation of an insured depository institution |
20-09 | Letter Type: No-Action Division: DMO Regulation Parts: 38 Tags: DCM, COVID-19, Part 38 Issuance Date: Description: No action relief for DCMs relating to trading floor closure in connection with the COVID-19 pandemic response. |
20-08 | Letter Type: No-Action Division: DMO Regulation Parts: 37.1306, 37.1501 Tags: CCO, Reporting, SEF, COVID-19 Issuance Date: Description: DMO will not recommend that the Commission take an enforcement action against any SEF or SEF CCO for failure to submit an ACR within the 60-day period prescribed in Commission regulation 37.1501(f)(2), provided that: (a) the ACR was required to be submitted to the Commission prior to September 1, 2020, pursuant to Commission regulation 37.1501(f)(2); and (b) the ACR is submitted to the Commission not later than 120 days after the end of the SEF’s fiscal year. Additionally, DMO will not recommend that the Commission take an enforcement action against any SEF or SEF CCO for failure to submit the fourth quarter financial report pursuant to Commission regulation 37.1306(d), within the 60-day period prescribed in Commission regulation 37.1306(d); provided, that: (a) the fourth quarter financial report was required to be submitted to the Commission prior to September 1, 2020, pursuant to Commission regulation 37.1306(d); and (b) the fourth quarter financial report is submitted to the Commission no later than 120 days after the end of the SEF’s fiscal year. |