Acting CFTC Chairman Pham Announces Regulatory Clarity For U.S. Access To Markets

Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced the Market Participants Division, Division of Clearing and Risk, and Division of Market Oversight issued a no-action letter to harmonize three separate definitions of “U.S. person,” among other things, under the CFTC’s Dodd-Frank Act cross-border swap framework. The letter simplifies and consolidates existing no-action positions that address almost 15 years of regulatory uncertainty and promotes harmonization with Securities and Exchange Commission regulations.