The CFTC's Market Participants Division and Division of Market Oversight extended previously granted no-action relief aimed at ensuring regulatory continuity after the United Kingdom's departure from the European Union.
The Federal Reserve Board, the OCC and the FDIC issued an interim final rule to excuse community banks that were affected by government policy responses to COVID-19 from the regulatory requirements that apply to institutions with over $10 billion in assets.
The CFTC adopted final rules for granting derivatives clearing organization registration exemptions to non-U.S. clearinghouses seeking to clear proprietary swaps for certain U.S. persons and futures commission merchants.
The SEC amended its whistleblower program with the goals of (i) providing greater transparency to whistleblowers, (ii) properly incentivizing whistleblowers and (iii) awarding whistleblowers to the "maximum extent appropriate."
The CFTC granted exemptions to five foreign futures and options markets to allow their member firms to accept U.S. customer funds for margining futures and options contracts without registering as futures commission merchants with the CFTC.
The Acting Director of the CFTC Division of Enforcement issued guidance to staff on when to recommend that a respondent's self-reporting, cooperation or remediation be recognized in Commission enforcement orders.
Several trade groups expressed support for CFTC-proposed amendments to uncleared swap margin requirements. The groups offered additional recommendations to enhance the proposals or further their intended impact.
CFTC Division of Swap Dealer and Intermediary Oversight staff advised futures commission merchants on accepting and holding virtual currency as customer funds in connection with physically delivered futures contracts or swaps; staff also provided guidance on related risk management programs.
In a 3-2 vote, the CFTC adopted a final rule that applies federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps.