Tag Archives: NoAction

SEC issues first No-Action Letter for Unregulated ICO

On April 3, 2019, the Securities and Exchange Commission (“SEC”) issued its first no-action letter related to the offering and sale of digital tokens. The beneficiary is TurnKey Jet, Inc. (“TurnKey”) which proposes to offer and sell blockchain-based digital assets … Continue reading

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DSIO Issues Time-Limited, Conditional No-Action Relief for Excluding Certain Loan-Related Swaps from Counting toward the Swap Dealer Registration De Minimis Threshold

  On August 28, 2018, the Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission (“DSIO“) announced “conditional, time-limited no-action relief to a banking entity for not counting certain loan-related swaps towards its swap dealer de … Continue reading

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SEC No-Action Letter Addresses Financial Exploitation of Clients

On June 1, 2018, the Securities and Exchange Commission’s Division of Investment Management issued a No-Action Letter to the Investment Company Institute.  The ICI asked the Division to assure that it would not recommend enforcement against a mutual fund or … Continue reading

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Division of Investment Management of the SEC Issues No-Action Letter to SSB

  On May 8, 2018, the Chief Counsel’s Office of the Division of Investment Management (“IM“) of the Securities and Exchange Commission (the “Commission“) issued a “no-action” letter to South State Bank (“SSB“) with respect to its request that the … Continue reading

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CFTC Extends No-Action Relief Between Certain Inter-affiliate Swaps

The Division of Clearing and Risk (DCR) responded to letter from the International Swaps and Derivatives Association, Inc. (ISDA) from November requesting extensions of CFTC exemption from the swap clearing requirement for inter-affiliate swaps and extension of no-action relief letters by … Continue reading

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