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RELEASE: pr7048-14

  • October 31, 2014

    CFTC Staff Issues an Extension of Time Limited, No-Action Relief to Futures Commission Merchants

    Washington, DC — The U.S. Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight issued an extension of previously issued time-limited, no-action relief to the Futures Industry Association, its member Futures Commission Merchants (FCMs), and similarly situated FCMs regarding the simultaneous recording of book entry credits upon the receipt of customer funds via a wire transfer by an FCM.

    The conditioned relief extends the previously issued no-action relief pending the Commission’s consideration of issues during a rulemaking process for certain conditions associated with the receipt of customer funds by an FCM pursuant to Commission Regulations 1.20, 22.2 and 30.7.

    Last Updated: October 31, 2014

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