CFTC Staff Letters

CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.

Title Body
PDF Image19-20 Letter Type: No-Action
Division: DSIO
Regulation Parts: 4m(1)
Tags: CPO, Registration
Issuance Date:
Description:

No-action relief was granted to an entity from the requirement to register as a CPO with respect to a commodity pool; provided that, the entity delegates its CPO responsibilities for that pool to a registered CPO, subject to certain conditions.

PDF Image19-19 Letter Type: No-Action
Division: DMO
Regulation Parts: 150, 150.4
Tags: Aggregation, Position Limits
Issuance Date:
Description:

Extension of no-action relief granted in CFTC Letter No. 17-37, which granted relief from compliance with certain position aggregation requirements in Commission Regulation 150.4.

PDF Image19-18 Letter Type: Interpretative
Division: DSIO
Regulation Parts: 42.2
Tags: IB, CIP, Customer Identification Program, VB, Voice Broker
Issuance Date:
Description:

The guidance clarifies the CIP and BO requirements applicable to introducing brokers (IBs) under the Bank Secrecy Act (BSA). The guidance provides regulatory clarity to certain IBs who lack access to the information needed to comply with CIP and BO obligations. The guidance eliminates duplicative efforts without impacting money laundering or terrorist financing risk, as the customer due diligence obligations will continue to be performed by the futures commission merchant (FCM) that carries the customer account. The particular IBs subject to this guidance do not introduce their customers’ accounts to FCMs. The IBs do not receive or have access to the customer identification and financial information obtained by FCMs, or the monthly account information issued by FCMs. This guidance clarifies that these IBs are not required to carry out CIP and comply with BO requirements.

PDF Image19-17 Letter Type: No-Action, Advisories
Division: DCR, DSIO
Regulation Parts: 1.56, 39.13
Tags: Initial margin, DCO, Disclosures, FCM, Margin, Guarantees Against Loss, Margin Withdrawals
Issuance Date:
Description:

Advisory to FCMs and time-limited no-action relief to DCOs with respect to the treatment of separate accounts by FCMs.

PDF Image19-16 Letter Type: Advisories
Division: DSIO
Regulation Parts: 23.154, 23.157, 23.158, 23.504, 23.600
Tags: Initial margin, Uncleared Swaps, Threshold
Issuance Date:
Description:

Advisory clarifying that no documentation concerning the collection, posting and custody of initial margin is required to be completed until the initial margin threshold amount of $50 million has been exceeded.

PDF Image19-15 Letter Type: No-Action
Division: DCR
Regulation Parts: 39.11, 39.12, 39.13, 39.15, 39.19, 39.21
Tags: Eligibility, Financial Resources, Public Information, Reporting, Risk
Issuance Date:
Description:

No-action relief from specified Part 39 regulations applicable to derivatives clearing organizations due to Eris Clearing, LLC’s fully-collateralized clearing model.

PDF Image19-14 Letter Type: No-Action
Division: DSIO
Regulation Parts: 1.3
Tags: Floor Trader
Issuance Date:
Description:

No-Action relief granted to registered floor traders from compliance with certain conditions in paragraph (6)(iv) of the "swap dealer" definition in CFTC regulation 1.3.

PDF Image19-13 Letter Type: No-Action
Division: DSIO
Regulation Parts: 23.150, 23.151, 23.152, 23.153, 23.154, 23.155, 23.156, 23.157, 23.158, 23.159, 23.160, 23.161
Tags: Initial margin, Margin, Swap Dealer, Swaps, Variation margin, Uncleared Swaps
Issuance Date:
Description:

No-action relief granted to swap dealers from the uncleared swap margin requirements under Part 23 of the Commission's regulations with respect to certain amendments to legacy swaps.

PDF Image19-12 Letter Type: No-Action
Division: DSIO
Regulation Parts: 4m(1)
Tags: CPO, Registration
Issuance Date:
Description:

No-action relief granted to a general partner of a SPE from CPO registration under CEA section 4m(1).

PDF Image19-11 Letter Type: No-Action
Division: DSIO
Regulation Parts: 4m(1)
Tags: Commodity Pool, CPO, Registration, Delegation
Issuance Date:
Description:

No-action relief was granted to an entity from the requirement to register as a CPO with respect to a commodity pool; provided that, the entity delegates its CPO responsibilities for that pool to a registered CPO, subject to certain conditions.