Advisory to SDs indicating they are not required to obtain approval to use a model to calculate the initial margin on uncleared swaps for purposes of determining the SD’s minimum capital requirement under Commission regulations.
Staff no-action position regarding the treatment of a deferred tax liability under Regulation 1.17 which is directly related to intangible assets booked as a result of an acquisition.
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.
Commission Regulation 1.17 – Staff no-action position regarding the treatment of operating leases caused by a change in accounting principles.
Staff no-action position regarding the treatment of a deferred tax liability caused by a change in accounting principles.
Request for No-Action Relief for Introducing Brokers’ Compliance with Certain Financial Reporting and Capital Computation Requirements under Regulations 1.10 and 1.17.
Staff issued an interpretation providing that a futures commission merchant (FCM) may credit a customer’s trading account for a margin payment upon the FCM’s initiation of a withdrawal from the customer’s bank account using the Automated Clearing House (ACH) payment processing system. The FCM also may consider such pending margin payments in computing its regulatory capital.
No-action relief for certain Introducing Brokers from filing certified and unaudited financial statements and calculating capital under regulation 1.17.
DCIO responded to a request for guidance from the Joint Audit Committee (JAC) as to investments of customer funds by futures commission merchants (FCMs) in corporate debt securities guaranteed by the Federal Deposit Insurance Corporation (FDIC) under its Temporary Liquidity Guarantee Program (TLGP).
DCIO received a request for guidance from the Joint Audit Committee concerning FCM regulatory reporting requirements for investments in a money market mutual fund. The fund had announced that its net asset value per share had fallen from $1.00 and that, as permitted by order of the SEC dated September 22, 2008, the fund had suspended redemptions and postponed payments.
