United States:
NFA Extends COVID-19-Related Relief To FCMs And IBs From Recordkeeping Requirements
27 January 2021
Cadwalader, Wickersham & Taft LLP
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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.
Primary Sources
- NFA Notice I-21-05: Coronavirus (COVID-19) Update
- Limited Extension to Certain Relief for FCMs and
IBs
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guide to the subject matter. Specialist advice should be sought
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