CTF Written Submission
RE: Letter to SEC
Nov. 22, 2025
- Exemptive relief should be narrowly tailored and only granted when it is necessary to enable a firm to offer a product or service on a level playing field, without undermining investor protection or market integrity.
- Exemptive relief must not be used to bypass core regulatory obligations, especially where it would provide selective competitive advantages or reduce public scrutiny that would otherwise occur through formal rulemaking.
- Any granted exemptive relief should be conditional, including requirements such as SEC oversight, AML compliance, governance structures, asset segregation, and demonstrable commitment to fair and orderly markets.
Last Reviewed or Updated: Nov. 24, 2025