No-Action Letters

We would not recommend enforcement action to the Commission under Section 12(d)(1)(A) or (B) of the 1940 Act against a Foreign Feeder Fund that acquires ...

ISDA Japan requested relief for SDs that are subject to the uncleared swap margin requirements of both the CFTC and the Financial Services Agency of ...

An investment adviser with power to dispose of client funds or securities for any purpose other than authorized trading has access to the client’s assets.[8] ...

DSIO believes that a specific and limited no-action position will serve to preserve the Commission’s March 1 implementation commitment, while help-ing to avoid a disruption ...

If SMAs are left with no choice but to set MTA to zero at the account level, this consequence negatively impacts SMA owners, imposing burdens ...

According to the SIFMA AMG No-Action Request, it is not practicable, notwithstanding good-faith efforts, to comply with the new notice filing and certification requirements of ...

This letter provides relief for the period from and including Feb-ruary 4, 2017 to and excluding May 8, 2017 from compliance with certain provisions of ...

Based upon the representations made in the Correspondence, the Division will not recommend that the Commission commence any enforcement action against “B” for failure to ...

The staff will not recommend enforcement action to the Commission under Rule 17a-5 or Rule 17a-12 if a broker-dealer or OTC derivatives dealer files the ...

You request, on behalf of the Futures Industry Association (“FIA”) and member futures commission merchants (“FCMs”) an interpretation regarding withdrawals of FCM excess residual interest ...