ARTICLE
18 November 2014

Commodity Futures Trading Commission Issues Extension Of Time-Limited, No-Action Relief To Futures Commission Merchants

SS
Shearman & Sterling LLP

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The no-action relief relates to the simultaneous recording of book entry credits upon the receipt of customer funds via a wire transfer by an FCM.
United States Finance and Banking
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On October 31, 2014, the U.S. Commodity Futures Trading Commission ("CFTC") issued an extension of the previously-issued, time-limited, no-action relief to the Futures Industry Association and its member Futures Commission Merchants ("FCMs"). The no-action relief relates to the simultaneous recording of book entry credits upon the receipt of customer funds via a wire transfer by an FCM.

CFTC Staff Letter 14-131 is available at: http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/14-131.pdf.

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