NFA extended relief from certain recordkeeping requirements to futures commission merchants ("FCMs") / introducing brokers ("IBs"), swap dealers ("SDs") and forex dealer members ("FDMs") through January 15, 2021. The relief, which was issued in response to the pandemic, was previously set to expire on September 30, 2020. NFA's extension follows similar no-action relief by the CFTC (see previous coverage).
The extended relief, as outlined previously in Notice I-20-13, concerns:
NFA Compliance Rule 2-36, which requires an FDM to prepare and file a chief compliance officer annual report.
The CFTC staff extended previously issued COVID-19-related relief through January 15, 2021 for registrants and members of swap execution facilities and designated contract markets.
NFA issued relief from certain recordkeeping requirements to futures commission merchants / introducing brokers, swap dealers and forex dealer members.
The CFTC Division of Market Oversight and Division of Swap Dealer and Intermediary Oversight issued a series of no-action letters to registrants as COVID-19 continues to pose compliance challenges.
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