The CFTC Division of Market Oversight ("DMO") extended time-limited no-action relief from certain position aggregation requirements. The relief was extended until August 12, 2022.
The relief, which was to expire this month, was requested by the FIA, the Asset Management Group of the Securities Industry and Financial Markets Association ("SIFMA AMG") and the Managed Funds Association ("MFA"). CFTC Letter 19-19 further extends relief previously granted by CFTC Letter 17-06 and extended by Letter 17-37. The extension provides continued relief for three more years from certain notice filing requirements of persons seeking an exemption from CFTC Rule 150.4(c).
The DMO stated that it would not recommend enforcement action against market participants who otherwise would be in compliance with applicable position aggregation requirements under CFTC Rule 150.4, but for the fact they do not meet all applicable notice filing requirements. The DMO also stated that the granting of such relief will provide it with a reasonable period of time to continue to evaluate whether further relief is necessary.
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