United States:
CFTC Provides Audit Relief To FCM
14 December 2018
Cadwalader, Wickersham & Taft LLP
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The CFTC Division of Swap Dealer and Intermediary Oversight (the
"Division") exempted a futures commission merchant
("FCM") from certain audited financial reports
requirements. Pursuant to the letter, the FCM's certified
financial statements for the year ending in December 31, 2018 do
not need to be audited in accordance with Public Company Accounting
Oversight Board audit independence standards where the auditor
provided non-financial services to an affiliate of the FCM that
were immaterial to the auditor's business.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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