On June 9, 2020, the Divisions of Swap Dealer and Intermediary Oversight and Market Oversight (the Divisions) of the Commodity Futures Trading Commission (CFTC) issued a joint no-action letter1 that extends certain COVID-19-related relief previously granted by these Divisions to futures commission merchants, swap dealers, floor brokers, retail foreign exchange dealers, swap execution facilities and designated contract markets in a series of no-action letters on March 17, 2020 (a summary of this relief can be found here and in the attached tables). This relief would have expired on June 30, 2020. Due to the continued disruption caused by the COVID-19 pandemic, the Divisions have extended the previously issued relief through September 30, 2020, subject to the conditions specified in the original no-action letters. The Divisions expect that registrants relying on the relief will take the steps necessary to come into full compliance with CFTC regulations during the period of this extension.2
The tables that follow summarize the actions of the CFTC and National Futures Association to address COVID-19. Please click here to see the tables.
1 CFTC Letter No. 20-19 can be viewed at https://www.cftc.gov/csl/20-19/download.
2 See CFTC, No. 8176-20, CFTC Extends No-Action Relief to Market Participants in Response to COVID-19 (June 10, 2020), https://www.cftc.gov/PressRoom/PressReleases/8176-20?utm_source=govdelivery.
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