CFTC Staff Letters

CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.

Letter Number Letter Types Advisories Exemption Interpretative No-Action Other Divisions COM DCIO DCR DMO DOD DOE DSIO MPD N/A OED OGC Regulation Parts 1 1(a)(23) 1.10 1.11 1.16 1.17 1.2 1.20 1.22 1.23 1.25 1.26 1.3 1.3(ggg)(4) 1.3(ggg)(6) 1.3(hhh) 1.32 1.35 1.38 1.49 1.55 1.56 1.57 1.58 1.71 1.73 1.9 1026.320 12.35 13(a) 140.99 15 150 150.2 150.4 151 151.5 155.3 16.01 160 166.3 17 17.04 18 180 180.1 180.2 19.01 19.02 190.04 190.10 1a(10) 1a(12)(C) 1a(15) 1a(18)(A) 1a(47)(D) 1a(49) 1a(5) 1a(6) 2(a) 2(a)(1)(C) 2(c)(2)(B) 2(c)(2)(C) 2(d) 2(e) 2(g) 2(h) 2(h)(1) 2(h)(1)(A) 2(h)(7) 2(h)(7)(C)(iii) 2(h)(8) 2(j) 20 20.4 20.5 22 22.17 22.2 22.3 22.5 22.9 23 23 Subpart E 23 Subpart F 23 Subpart H 23 Subpart I 23 Subpart J 23 Subpart L 23.100 23.101 23.102 23.103 23.104 23.105 23.106 23.150 23.150 - 23.161 23.151 23.152 23.153 23.154 23.155 23.156 23.157 23.158 23.159 23.160 23.161 23.202 23.204 23.205 23.22 23.400 23.401 23.402 23.410 23.430 23.431 23.432 23.433 23.434 23.440 23.450 23.451 23.500 23.501 23.502 23.503 23.504 23.505 23.506 23.600 23.602 23.608 23.609 23.610 23.700 23.701 23.702 23.703 23.704 3 3 Subpart A 3.10 3.12 3.3 3.4 3.55 30 30.1 30.10 30.13 30.2 30.5 30.6 30.7 32.3 32.4 33.7 36.3 37 37.1000 37.1001 37.12 37.1303 37.1306 37.1501 37.200 37.201 37.202 37.203 37.205 37.3 37.400 37.406 37.6 37.702 37.9 38 38 Appendix C 38.10 38.11 38.1101 38.152 38.153 38.157 38.158 38.200 38.250 38.251 38.252 38.253 38.254 38.255 38.256 38.3 38.401 38.500 38.553 38.8 38.951 39 39 Subpart C 39.11 39.12 39.13 39.14 39.15 39.16 39.17 39.19 39.20 39.21 39.33 39.36 39.39 39.40 39.6 4 4 Appendix A 4(c) 4.10 4.10(d)(1) 4.12 4.13 4.14 4.20 4.21 4.22 4.23 4.24 4.25 4.27 4.31 4.33 4.34 4.35 4.36 4.5 4.6 4.7 4.7(b)(2) 4.7(b)(3) 40 40.1 40.2 40.3 40.4 40.6 42.2 43 43.2 43.3 43.4 43.6 45 45.10 45.14 45.2 45.3 45.4 45.5 45.8 46 48 48.2 49 4a 4d 4d(f) 4d(f)(1) 4d(f)(2) 4d(f)(3) 4d(f)(4) 4d(f)(6) 4e 4m 4m(1) 4s(b)(6) 4s(e) 4s(k) 4s(k)(2) 4s(l) 5 5(a) 5(d)(10) 5(d)(11) 5(d)(20) 5(d)(4) 5(d)(9) 5.18 50 50 Subpart A 50.2 50.4 50.50 50.51 50.52 5b(a) 5b(c)(2)(C) 5b(c)(2)(E) 5b(c)(2)(H) 5c 5h(a)(1) 75.14 8a(2) 8a(3) 9(a)(5) Letter Tags Abusive Acknowledgement Affiliates Aggregation AI ANE Annual Report Associated Persons Audit Audit Trail Binary Option Block Trades Block Trades Board of Trade Boards of Trade Brexit Business Conduct Standards Business Continuity-Disaster Recovery Capital Cash CCO CIP Cleared Cleared Swaps Clearing Clearing Requirement CME Collateral Commission Regulation 37.3(a)(2) Commission Regulation 37.9 Commodity Pool Compliance Confirmation Contract Market Cooperation Core Principles Counterparty COVID-19 CPO Cross-border CTA Custodial Customer Customer Funds Customer Identification Program DCM DCM Core Principle 9 DCO De Minimis Delegation Depository Designation Digital Assets Disclosure Disclosures Documentation Dormancy ECM Eligibility Eligible Contract Participant End-user Enforceability Enforcement ESM Event Contract Exception Exceptions Exclusion Execution Exempt DCO Exempt SEF Exemption Exemptions External Business Conduct FCM Financial Integrity Financial Reports Financial Resources Fingerprinting Floor broker Floor Trader Foreign Foreign Boards of Trade Foreign Broker Foreign Clearing Organization Foreign Currency foreign exchange forwards Foreign exchange spot transactions Foreign Future Foreign Option Foreign Transactions Forward Fully-collateralized Funds Futures Laws FX Spot Transactions Guarantees Against Loss Hedging IB IBOR Initial Initial margin Insured depository institution Intended To Be Cleared Interstate Investment of Customer Funds Jurisdiction Large Pool Large Trader Legacy Swaps LIBOR Margin Margin Withdrawals Market Integrity Material Information Minimum financial requirements Minimum Trading Functionality minimum transfer amount Model MSP MTA Non-US MSP Non-US Swap Dealers Nonbank Order Book Ownership and Control Package Transactions Part 17 Part 18 Part 20 Part 38 Part 40 Part 43 Part 45 Permitted Transactions Pool Participant Portfolio Position Limits Positions Prime Brokerage Prohibited Public Public Information Real-Time Recordkeeping Recovery Referral Criteria Registration Reinstatement Requirements Remediation Reporting Required Transactions Requirements RFED Risk Risk Management SD SDR SEC SEF SEF Registration Segregated Segregation Self-Reporting Separate Account Treatment Separate Accounts Settlement SIDCO SOFR Special Entity Speculation Statutory Disqualification Straight-through processing Substituted Compliance Swap Swap Data Swap Dealer Swap Documentation Swap Execution Facility Swap Trading Relationship Documentation Swaps System Safeguards Tangible Net Worth Threshold Trade Execution Trade Execution Requirement Trade Option Trader Trading Transition Swaps Uncleared Swaps Unregistered Variation Variation margin VB Virtual Currency Voice Broker Wind-down Window FX Forwards Withdrawal Requester Tags ADMIS ARIS ARISDCO ARRC BAM BTNL BTNL CLEAR CFM CFTC CGA CGS&H LLP CMC CME CMESDR CMIC COINBASE CRG DTCC EEI EIMS ELECX ELECXDCO FCX FCXDCO FIA GEM GMAC ICE SDR ICLR US IIB III CAP ISDA JSCC KEX KLEAR KOR KRX LCHSA LEDGERX LSEG SEF MFA MGECH MIAX MORGSTAN OCC PM US PMC PMRC INC PREDICTIT QCCLEAR QCX RAILBIRDX ROYALTY SCBL SHCH SIFMA SIFMA AMG SMFE TAIFEX TWO SIGMA UBS ESE UBSAG VICU YIELDBRKER Dodd Frank - Any - True False Letter Year All 2026 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 Apply Reset
| PDF | Description |
| --- | --- |
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24-05 | Letter Type: Exemption
Division: MPD
Regulation Parts: 4.7
Tags: Commodity Pool, CPO, Disclosures, Exemptions, Funds, Pool Participant, Reporting
Issuance Date:

05/07/2024

Description: Exemptive relief permitting a limited number of non-QEP senior employees of the CPO to be treated as QEPs, subject to several specific conditions, for purposes of investing in employee securities companies the CPO operates as 4.7 pools.

See also: Request Letter
Requester(s): TWO SIGMA |
|
24-04 | Letter Type: Exemption
Division: MPD
Regulation Parts: 4.7(b)(3), 4.22
Tags: Annual Report, Commodity Pool, CPO
Issuance Date:

04/04/2024

Description: Exemptive relief from the requirement in Regulations 4.7(b)(3) and 4.22(c) to provide an audited Annual Report and Financial Statements when liquidating a commodity pool, if the pool instead provides a combined 13-month Annual Report and Financial Statements.

See also: Request Letter
Requester(s): III CAP |
|
24-01 | Letter Type: No-Action, Exemption
Division: DCR
Regulation Parts: 4d(f), 1.20, 1.49, 22.5
Tags:
Issuance Date:

01/16/2024

Description: No-action relief for LCH SA with regard to Regulations 1.20(g)(4) and 22.5, and an exemption from the requirements of Regulation 1.49(d)(3) for customer accounts held at the Banque de France.

Requester(s): LCHSA |
|
23-04 | Letter Type: Exemption
Division: MPD
Regulation Parts: 4.7, 4.7(b)(2), 4.7(b)(3)
Tags: Commodity Pool, CPO, Pool Participant, Reporting
Issuance Date:

01/30/2023

Description: Exemptive relief for a CPO from the requirement to provide quarterly account statements within 30 days of the end of each quarter for certain pools, provided that the CPO provides monthly account statements within 45 days of the end of each month for such pool.

See also: Request Letter
Requester(s): CGA, EIMS |
|
21-16 | Letter Type: Exemption
Division: MPD
Regulation Parts: 4.7(b)(2)
Tags: Commodity Pool, Compliance, CPO, Disclosure, Exemption, Funds, Pool Participant, Reporting
Issuance Date:

07/27/2021

Description: Exemptive relief for a CPO from the requirement to provide quarterly account statements within 30 days of the end of each quarter for one of its pools, provided that the CPO provides monthly account statements within 45 days of the end of each month for such pool. |
|
21-07 | Letter Type: Exemption
Division: MPD
Regulation Parts: 1.10, 1.16
Tags: Financial Reports, IB
Issuance Date:

03/24/2021

Description: Exemptive relief to registered Introducing Broker for filing a certified financial report under Regulation 1.10 and Regulation 1.16. |
|
19-03 | Letter Type: Exemption
Division: DSIO
Regulation Parts: 4.7
Tags:
Issuance Date:

02/22/2019

Description: CPO exempt from the requirement to provide quarterly account statements within 30 ends of the end of each quarter, provided that the CPO provides monthly account statements within 45 days of the end of each month. |
|
19-01 | Letter Type: Exemption
Division: DSIO
Regulation Parts: 4.7(b)(2)
Tags:
Issuance Date:

01/28/2019

Description: Exemptive relief granted to a CPO to permit the CPO to provide monthly account statements to participants in specific commodity pools it operates within 45 days of the month end, rather than quarterly account statements within 30 days of the quarter end as required by Commission Regulation 4.7(b)(2). |
|
18-36 | Letter Type: No-Action, Exemption
Division: DSIO
Regulation Parts: 4.7
Tags:
Issuance Date:

07/19/2018

Description: Exemptive relief granted to a CPO to permit the CPO to provide monthly account statements to participants within 45 days of the month end rather than quarterly account statement within 30 days of the quarter end pursuant to Commission regulation 4.7(b)(2 |
|
18-34 | Letter Type: Exemption
Division: DSIO
Regulation Parts: 4.7
Tags:
Issuance Date:

07/19/2018

Description: Exemptive relief granted to a CPO to permit the CPO to provide monthly account statements to participants within 45 days of the month end rather than quarterly account statement within 30 days of the quarter end pursuant to Commission regulation 4.7(b)(2). |

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