On November 21, 2025, the staff of the Market Participants Division (MPD) of the Commodity Futures Trading Commission (CFTC) issued Staff No-Action Letter No. 25–37 (Staff Letter) in response to a request from the Structured Finance Association (SFA).
| less than a minute read
Credit Risk Transfer SPVs Obtain CPO Relief from the CFTC

/Passle/684aaaec517046949f040d52/MediaLibrary/Images/2026-04-20-23-07-05-049-69e6b1992e1222dc00e11413.jpg)
/Passle/MediaLibrary/Images/2025-09-22-10-35-40-629-68d1267cdf36028526d6a546.jpg)
/Passle/684aaaec517046949f040d52/SearchServiceImages/2026-05-21-14-56-15-789-6a0f1d0f0e3b70e847081924.jpg)
/Passle/MediaLibrary/Images/2025-09-22-10-35-40-915-68d1267c804c8cc59b4e0aee.jpg)