On January 23, 2015, the US Commodity Futures Trading Commission ("CFTC") issued no-action relief for CFTC Regulations 1.10 and 1.17, respectively. The relief pertains to certain introducing brokers ("IB") regarding net capital and financial reporting requirements. The no-action relief allows foreign-domiciled IBs to file audited and unaudited form 1-FR-IBs, utilizing local accounting principles in effect where the IB is located in lieu of US Generally Accepted Accounting Principles or International Financial Reporting Standards.
The CFTC Staff Letter 15-02 is available at: http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/15-02.pdf.
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