CFTC Staff Letters

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

PDF Description
PDF Image 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.


PDF Image 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.


PDF Image 20-07 Letter Type: No-Action
Division: DMO
Regulation Parts: 37.205, 37.400, 37.406, 37.1000, 37.1001
Tags: Recordkeeping, SEF, Trading, COVID-19
Issuance Date:
Description:

Subject to the conditions specified in the letter, DMO will not recommend that the Commission take an enforcement action against any SEF for the failure to comply with Commission regulations 37.205(a)-(b), 37.400(b), 37.406, 37.1000(a)(1), and 37.1001 to the extent that non-compliance arises from the inability of SEFs to record voice communications as a result of the displacement of voice trading personnel from their normal business sites in connection with the COVID-19 pandemic response.


PDF Image 20-06 Letter Type: No-Action
Division: DSIO
Regulation Parts: 3.3, 23.202
Tags: Annual Report, Recordkeeping, SD, COVID-19
Issuance Date:
Description:

No-action positions for swap dealers to facilitate physical separation of personnel in response to the COVID-19 pandemic


PDF Image 20-05 Letter Type: No-Action
Division: DSIO
Regulation Parts: 1.35, 5.18
Tags: Recordkeeping, RFED, COVID-19
Issuance Date:
Description:

No-action positions for retail foreign exchange dealers to facilitate physical separation of personnel in response to the COVID-19 pandemic


PDF Image 20-04 Letter Type: No-Action
Division: DSIO
Regulation Parts: 1.3, 1.35
Tags: IB, Recordkeeping, Registration, Floor broker, COVID-19
Issuance Date:
Description:

No-action positions for floor brokers to facilitate physical separation of personnel in response to the COVID-19 pandemic


PDF Image 20-03 Letter Type: No-Action
Division: DSIO
Regulation Parts: 1.35, 1.55, 3.3
Tags: Annual Report, FCM, IB, Recordkeeping, COVID-19
Issuance Date:
Description:

No-action positions for futures commission merchants and introducing brokers to facilitate physical separation of personnel in response to the COVID-19 pandemic


PDF Image 20-02 Letter Type: No-Action
Division: DSIO
Regulation Parts: 1.35
Tags: DCM, Recordkeeping, SEF, COVID-19
Issuance Date:
Description:

No-action positions for certain members of designated contract markets and swap execution facilities to facilitate physical separation of personnel in response to the COVID-19 pandemic


PDF Image 20-01 Letter Type: No-Action
Division: DMO
Regulation Parts: 37, 37.9, 37.203, 38, 38.152, 38.500
Tags: Cleared Swaps, DCM, SEF
Issuance Date:
Description:

This relief revises CFTC Staff No-Action Letter 17-27 with respect to the error correction process for cleared erroneous swaps.


PDF Image 19-29 Letter Type: No-Action
Division: DSIO
Regulation Parts: 23.154
Tags: Initial margin, Margin, SD
Issuance Date:
Description:

No-action relief granted to a swap dealer concerning the calculation of initial margin under Commission regulation 23.154.