U.S. derivatives regulators are extending the slew of regulatory relief provided in response to Covid-19 through the summer.
The U.S. Commodity Futures Trading Commission (CFTC) announced that the various relief measures that it has introduced to accommodate the public health restrictions accompanying the pandemic have been extended to Sept. 30.
The measures were originally slated to expire June 30.
In March, the CFTC began providing temporary relief to industry firms to support orderly trading and liquidity, despite the introduction of physical distancing requirements.
“There is little doubt that the flexibility we have provided helped derivatives markets function as shock absorbers during the periods of extreme volatility caused by the pandemic,” said CFTC chairman Heath Tarbert.
Now, those provisions will remain in effect for the next few months.
“This time-limited extension recognizes the reality that work-from-home arrangements are likely going to be commonplace for the foreseeable future,” said CFTC directors Joshua Sterling and Dorothy DeWitt in a joint statement.
“During this extended period, however, we expect that registrants will take the necessary steps to come into full compliance with CFTC regulations, such as those related to voice recordings and time-stamps,” they added.