Release Number 8132-20

March 17, 2020

CFTC Provides Relief to Market Participants in Response to COVID-19

— The Commodity Futures Trading Commission today announced the Division of Swap Dealer and Intermediary Oversight (DSIO) has issued a number of no-action letters providing temporary, targeted relief to futures commission merchants, introducing brokers, swap dealers, retail foreign exchange dealers, floor brokers, and other market participants in response to the COVID-19 (coronavirus) pandemic. The spread of coronavirus has caused compliance with certain CFTC requirements to be particularly challenging or impossible because of displacement of registrant personnel from their normal business sites due to social distancing and other measures.

“These prudent, targeted, and temporary actions will help facilitate orderly trading and liquidity in our derivatives markets. The CFTC remains squarely focused on promoting their integrity, resilience, and vibrancy through sound regulation,” said CFTC Chairman Heath P. Tarbert. “At my direction, the CFTC has pivoted our approach to take this challenge head on and we have dedicated appropriate resources to adapt to market developments. I thank DSIO Director Josh Sterling and his staff for their expeditious development of this relief.”

Subject to the conditions stated in the letters, the relief provided is as follows: