From: RegTech Analyst
As the US markets spiral further downwards as a consequence of the coronavirus outbreak, the Commodity Futures Trading Commission (CFTC) has taken measures to insulate traders from the impact.
The regulator’s Division of Swap Dealer and Intermediary Oversight (DSIO) has announced that it has issued additional targeted, temporary no-action relief to foreign affiliates of certain futures commission merchants (FCMs) in response to the pandemic. The relief expires on September 30, 2020.
“The CFTC will continue to provide targeted, temporary relief to market participants where appropriate,” said Joshua Sterling, director of the DSIO Director. “This action bolsters our efforts to facilitate orderly trading and liquidity in our derivatives markets during this volatile period. We encourage market participants to engage with the CFTC early and often as market developments continue to unfold.”
The news comes after the pandemic has made neigh impossible to comply with some of the CFTC’s rules as businesses are making their employees work from home in order to comply with social distancing guidelines designed to limit the spread of the coronavirus.
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