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CFTC Further Extends Certain No-Action Relief to Market Participants in Response to COVID-19

September 16th | 2020



The CFTC recently announced the Division of Swap Dealer and Intermediary Oversight (DSIO) and the Division of Market Oversight (DMO) are further extending certain elements of the temporary no-action relief issued in response to the COVID-19 (coronavirus) pandemic that are set to expire on September 30, 2020. The extended relief expires January 15, 2021.

Subject to the conditions stated in previously, the relief provided is as follows:

  • Relief for Registrants and Members of Swap Execution Facilities (SEFs), and Designated Contract Markets (DCMs). DSIO is extending targeted no-action relief for affected firms from CFTC regulations requiring recording of oral communications related to voice trading and other telephonic communications, as well as time-stamping requirements when located in remote, socially-distanced locations.

  • Relief for SEFs and DCMs. DMO is extending targeted no-action relief for SEFs and DCMs from certain CFTC regulations regarding audit trails, recording of oral communications, and related requirements as a result of the displacement of trading personnel from their normal business sites.

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