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ARTICLE · 02 DECEMBER 2020

CFTC Extends Brexit-Related No-Action Relief

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CFTC Letter 20-40 extends the relief provided under CFTC Letter 19-09.

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The CFTC's Market Participants Division ("MPD") and Division of Market Oversight ("DMO") (collectively, the "Divisions") extended previously granted no-action relief (see here and here) aimed at ensuring regulatory continuity after the United Kingdom's departure from the European Union ("Brexit").

CFTC Letter 20-39 extends the relief provided under CFTC Letter 19-08. Specifically, the staff stated that it will not recommend enforcement actions (i) against registered swap dealers that comply with UK regulations transposed under the European Union (Withdrawal) Act of 2018 ("EU(W)A") and (ii) against:

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