March 17, 2020 / 11:58 AM / 14 days ago

CFTC to give work-from-home relief to traders

(Reuters) - The U.S. Commodity Futures Trading Commission (CFTC) is planning to allow market participants to skip certain record-keeping requirements if they work from home amid the coronavirus pandemic, a spokesman said on Tuesday.

The short-term relief from the regulator will apply to trading venues, banks, brokers and other parties until June 30.

The first set of no-action letters — where regulators inform market participants that they won’t enforce certain rules — is expected to come in later in the day, the spokesman said.

The Wall Street Journal reported the CFTC action earlier on Tuesday, citing officials familiar with the matter. (on.wsj.com/39XUGG7)

The measures to be announced include extending certain filing deadlines and allowing manual record-keeping as traders will not have access to phone lines that could record calls, a regulatory requirement under normal circumstances.

Reporting by Bharath Manjesh in Bengaluru and Chris Prentice in Washington; Editing by Shailesh Kuber and Sherry Jacob-Phillips

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