CFTC No-Action Relief for Futures Commissions Merchants

more+
less-
more+
less-

On December 11, the CFTC issued a no-action letter that provides certain futures commission merchants (FCMs) with limited relief surrounding the requirement that chief compliance officers of such FCMs prepare and submit an Annual Report, pursuant to Commission Regulation 3.3. The relief applies to FCMs that: (i) were registered with the CFTC as of June 4, 2012 and (ii) are currently regulated by a U.S. prudential regulator or registered with the SEC. CFTC Release. No-Action Letter.

Topics:  CFTC, FCMs, No-Action Letters

Published In: Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick - Structured Finance Group | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »