May 14, 2021

Volume XI, Number 134

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CFTC Staff Issues Continuation of Certain No-Action Relief to Market Participants in Response to COVID-19

On April 14, the Commodity Futures Trading Commission’s Market Participants Division (MPD) and Division of Market Oversight (DMO) jointly issued CFTC Staff Letter 21-10 to extend, for a limited time, parts of the temporary no-action relief granted in response to the COVID-19 pandemic, which expired on April 15.

CFTC Staff Letter No. 21-10 extends until September 30 the following relief:

  • Relief from Introducing Broker (IB) Registration and Location Requirements for Floor Brokers (FBs). MPD is providing a limited continuation of relief from IB registration and location requirements for FBs that normally operate on an exchange’s trading floor and/or other designated premises from which customer orders may be placed.

  • Relief for Designated Contract Markets (DCMs). DMO is providing a limited continuation of targeted no-action relief for DCMs from certain CFTC regulations related to real-time market monitoring requirements as a result of the displacement of FBs from the trading floor.

CFTC Press Release

CFTC COVID-19 Pandemic Response

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©2021 Katten Muchin Rosenman LLPNational Law Review, Volume XI, Number 106
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TRENDING LEGAL ANALYSIS

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About this Author

Kevin M. Foley, Finance Lawyer, Katten Llaw Firm
Partner

Kevin M. Foley has extensive experience in commodities law and advises a wide range of clients, both in the United States and abroad, on compliance with the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC) affecting traditional exchange-traded products, as well as the over-the-counter markets involving swaps and other derivative instruments. His clients include futures commission merchants, derivatives clearing organizations, designated contract markets, foreign boards of trade and an industry trade association.

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312-902-5372
Associate

Alexander Kim is an associate in the Financial Markets and Funds practice.

212-940-6535
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