Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: CPO

CFTC Provides No-Action Relief From CPO and CTA Registration to a Private University

Posted in CFTC
On September 13, the Division of Swap Dealer and Intermediary Oversight (DSIO or Division) of the Commodity Futures Trading Commission (CFTC or Commission) granted no-action relief from commodity pool operator (CPO) and commodity trading advisor (CTA) registration to a private university, subject to certain conditions. At issue was (1) the university’s collective management of an… Continue Reading

CFTC Grants No-Action Relief From CPO Registration for Managers of Endowment Assets

Posted in CFTC
On April 4, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DISO) granted no-action relief from registration as a commodity pool operator (CPO) to a management company and certain fund directors whose sole clients are funds established to manage the endowment of a state university (University) and certain of its affiliates.… Continue Reading

40 Days Left Until Compliance Date for Variation Margin Rules for Uncleared Swaps

Posted in Derivatives
As part of a global regulatory initiative, the United States, European Union, Canada, Switzerland, Japan, Hong Kong, Singapore and Australia have all adopted, or are in the process of adopting, rules (Margin Rules) that impose mandatory variation margin requirements on non-cleared swaps and, in some cases, non-cleared security-based swaps and FX derivatives (collectively, “Covered Trades”).… Continue Reading

NFA Issues Notice to Members Regarding CPO/CTA Exemption Affirmations

Posted in CFTC
On January 11, National Futures Association (NFA) issued Notice I-17-02, which reminds NFA members of their obligations with respect to commodity pool operators (CPOs) and commodity trading advisors (CTAs) exempt from registration. The Commodity Futures Trading Commission requires any person claiming an exemption from CPO registration under CFTC Regulation 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), 4.13(a)(5), an exclusion… Continue Reading

CFTC Unanimously Approves Final Rule Amendments to Its Regulations Regarding CPO Financial Reports

Posted in CFTC
On November 21, the Commodity Futures Trading Commission announced unanimous approval of amendments to the required financial reports that a commodity pool operator (CPO) provides on each pool the CPO operates. The amendments contain provisions similar to the guidance previously provided through exemptive relief or no-action letters and include the following changes: approved use of… Continue Reading

NFA Proposes Amendments to CPO and CTA Quarterly Reporting Requirements

Posted in CFTC
On September 6, the National Futures Association (NFA) filed with the Commodity Futures Trading Commission for approval an amendment to NFA Compliance Rule 2-46 (CPO and CTA Quarterly Reporting Requirements) and a proposed NFA Interpretive Notice NFA Compliance Rule 2-46: Reporting Financial Information on NFA Forms PQR and PR. NFA Compliance Rule 2-46 requires member… Continue Reading

CFTC Extends Comment Period For Proposed Amendments to CPO Annual Report Regulation

Posted in CFTC
On August 30, the Commodity Futures Trading Commission announced that it is extending the comment period with respect to proposed amendments to CFTC Regulation 4.22, which pertains to the annual reports a commodity pool operator must distribute with respect to each commodity pool it operates. The proposed amendments deal with acceptable accounting principles to be… Continue Reading

CFTC Grants Relief to Certain Non-U.S. Intermediaries

Posted in CFTC, Derivatives
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) has granted no-action relief to certain intermediaries located outside the United States. As background, CFTC Regulation 3.10(c)(3)(i) provides an exemption from registration as a commodity pool operator (CPO), commodity trading advisor (CTA) or introducing broker (IB) to persons located outside the United… Continue Reading