CFTC Issues No-Action Letter to UBS Europe SE Concerning Affiliate Support Activities

The Commodity Futures Trading Commission (CFTC) announced that its Market Participants Division has issued a no-action letter to UBS Europe SE. Under the terms of the announcement, the division is extending to UBS Europe SE the no-action position previously established in CFTC Staff Letter No. 12-70 regarding the provision of affiliate support activities. The regulatory relief applies notwithstanding that UBS Europe SE may be subject to statutory disqualification solely for the reasons detailed within the division's letter.