On May 28, 2020, the Commodity Futures Trading Commission (CFTC) unanimously approved an interim final rule in order to grant an extension of the compliance schedule for uncleared swaps in response to the many operational challenges entities are facing in the wake of the COVID-19 (coronavirus) pandemic. It also approved a proposed rule exempting certain … Continue Reading
On March 31, 2020, the Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) announced the release of a targeted, temporary no-action letter aimed at foreign affiliates of futures commission merchants (FCMs). This relief is meant to ease regulatory burdens in the face of the global COVID-19 pandemic. In short, the … Continue Reading
On March 20, 2020, the Commodity Futures Trading Commission (CFTC) issued a third wave of relief to market participants in the wake of the COVID-19 (coronavirus) pandemic.… Continue Reading
This week, on March 17, 2020, the Commodity Futures Trading Commission (CFTC) released two announcements (see here and here) regarding a series of no-action letters in response to the ongoing global COVID-19 pandemic. The CFTC’s announcements come in the wake of high-profile efforts by other financial regulators to quickly address the financial and regulatory effects … Continue Reading
On September 14, 2017, the Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) issued a no-action letter for the first time, after having finalized its no-action letter policy in February 2016. The Bureau’s letter grants a request by Upstart Network, Inc. (“Upstart”), an online lender that uses both traditional and non-traditional credit scoring data, … Continue Reading
