Statement Of CFTC Commissioner Kristin N. Johnson On Extension Of Staff No-Action Letter Regarding Investments In Securities With Adjustable Rate Of Interest Benchmarked To SOFR

<p><span>Commission regulation 1.25 is a seminal provision governing futures commission merchant (&ldquo;FCM&rdquo;) and derivatives clearing organization (&ldquo;DCO&rdquo;)</span><span>&nbsp;investment of customer funds.&nbsp;&nbsp;The regulation authorizes FCMs and DCOs to investment customer funds in a sensibly limited set of permitted investments consistent with the prudential objectives of preserving customer funds and maintaining liquidity.</span></p>

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