NFA Extends COVID-19-Related Relief to FCMs and IBs from Recordkeeping Requirements
NFA extended COVID-19-related relief with respect to (i) the oral communications recordkeeping requirements applicable to introducing brokers ("IBs") through March 31, 2021, and (ii) the time-stamping requirements for both IBs and futures commission merchants through April 15, 2021.
Both extensions align with similar recently issued CFTC no-action relief in CFTC Letters 21-04 and 21-05. NFA stated that its relief is contingent upon compliance with the terms of the CFTC relief (see previous coverage here), and that neither NFA nor the CFTC anticipates issuing further extensions for these regulatory obligations.
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CFTC staff extended previously issued COVID-19 related no-action relief to futures commission merchants, floor brokers and introducing brokers from certain oral recordkeeping, audit trail and time-stamping requirements.
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NFA extended relief from certain recordkeeping requirements to futures commission merchants / introducing brokers, swap dealers and forex dealer members.