// definition
No-action letter
A conditional CFTC staff enforcement position
Short definition
Within the CFTC framework, a written staff position stating that enforcement will not be recommended for specified requirements and circumstances, subject to stated conditions. Its scope depends on the facts presented and may be modified or withdrawn. It does not bind the Commission or provide a general legal conclusion about the contract.
risk atlas
Knowledge map
Intuition
The letter identifies the requirements and persons covered by the staff position.
Related analyses
Primary sources
- CFTC, Staff Letter 25-02, January 31, 2025Pages 4–6: scope, conditions, non-binding effect on the Commission and possible modification.