What is a CFTC no action letter?
No-Action. A no-action letter is a written statement by the staff of a Division of the Commission or its Office of the General Counsel that such staff will not recommend that the Commission commence enforcement action for failure to comply with a specific provision of the Act or Commission regulations.
What are the categories of CFTC?
6 Let’s take a look at five of the main divisions of the CFTC: Division of Clearing and Risk, Market Participants Division, Division of Market Oversight, Division of Data, and the Division of Enforcement.
What is no action relief?
No-action relief is a mechanism that allows registrants to obtain certain assurances when their conduct may touch upon a gray area of regulation, or even may be technically proscribed, but does not raise the policy concerns underlying a particular rule.
How do you get a no-action letter?
No-action letters are available in the following sources:
- Federal Securities Law Reporter.
- SEC website – Division of Corporation Finance No-Action, Interpretive and Exemptive Letters.
- Lexis.
- Westlaw.
Who are the non commercial traders?
A non-commercial trader is someone who has no direct business interests in the commodity that they are trading. Instead, a non-commercial trader takes a speculative market position only to profit from price moves in the market.
What is a no-action request?
A no-action letter is a letter written by the staff members of a government agency, requested by an entity subject to regulation by that agency, indicating that the staff will not recommend that the agency take legal action against the entity, should the entity engage in a course of action proposed by the entity …
What is the CFTC staff letter archive?
CFTC staff issues written guidance concerning the Commodity Exchange Act and the Commission’s regulations, principally in the form of responses to requests for exemptive, no-action, and interpretative letters. Letters published prior to the current year are available in the CFTC Staff Letter Archive.
What is a no action letter from the Commission?
A no-action letter is a written statement by the staff of a Division of the Commission or its Office of the General Counsel that such staff will not recommend that the Commission commence enforcement action for failure to comply with a specific provision of the Act or Commission regulations.
What is an exemptive letter from Commodity Exchange Act?
An exemptive letter is a written grant by the staff of a Division of the Commission or its Office of the General Counsel, pursuant to delegated authority, of exemption from a specific provision of the Commodity Exchange Act (the “Act”) or Commission regulations.