The CFTC Divisions of Market Oversight, Swap Dealer and Intermediary Oversight, and Clearing and Risk warned regulated entities "to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."
In a no-action letter, the SEC Division of Trading and Markets provided relief to broker-dealers with respect to certain custody requirements for accounts of investment funds and investment companies with common managers.
The CFTC and the DOJ charged the principal of a cryptocurrency escrow company for making false statements to two customers who had given the principal $7 million that their bitcoin would be "safeguarded" by his company.
SEC Office of Compliance Inspections and Examinations Director Peter Driscoll urged firms to establish and maintain strong compliance programs that address AML, microcap securities, paying agents and cybersecurity.
The SEC Division of Trading and Markets granted no-action relief to a broker-dealer from an Exchange Act requirement to transmit a customer's rollover check to the clearing broker-dealer by noon of the next business day after receipt.