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ARTICLE · 21 MAY 2020

CFTC DSIO Grants Temporary Relief From Registration Fingerprint Requirement

Hogan Lovells Cadwalader
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Upon NFA's announcement that it has resumed processing, applicants relying on the temporary no-action relief will have 30 days to submit their fingerprints.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") granted temporary no-action relief to certain associated persons under CFTC Rule 3.10 ("Principal Registrations") and Rule 3.12 ("Associated Person Registrations") from providing fingerprint cards when applying for registration.

The no-action relief is conditional upon the sponsoring firm completing a criminal background check that does not reveal any matters that would subject the applicant to statutory disqualification under Sections 8a(2) and 8a(3) of the Commodity Exchange Act, and is valid until July 23, 2020, or until or such earlier date that NFA resumes fingerprint processing. Upon NFA's announcement that it has resumed processing, applicants relying on the temporary no-action relief will have 30 days to submit their fingerprints.

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