On November 24, the Commodity Futures Trading Commission’s (CFTC) Market Participants Division (MPD) and Division of Market Oversight (DMO) announced an extension of two previously granted no-action letters to provide greater certainty to the global marketplace in connection with the withdrawal of the United Kingdom (UK) from the European Union (EU). CTFC Staff Letter 20-39 stipulates that MPD and DMO will provide temporary relief to ensure the continued availability of substituted compliance and regulatory relief under CFTC comparability determinations and exemptive orders the CFTC originally issued for EU entities. CTFC Staff Letter 20-40 ensures the omnibus relief provided by MPD to EU entities in certain staff letters continues to be available for UK entities following the end of the transition period.
The press release is available here.
CTFC Staff Letter 20-39 is available here.
CTFC Staff Letter 20-40 is available here.