Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: CTA

NFA Issues Notice of Additional Reporting Requirements for CPOs and CTAs That Trade Virtual Currency Products and IBs that Solicit or Accept Orders in Virtual Currency Products

Posted in CFTC, Derivatives
On December 14, 2017, the National Futures Association (NFA) issued Notices regarding commodity pool operators (CPOs), commodity trading advisors (CTAs) and introducing brokers (IBs), outlining new reporting requirements for CPOs, CTAs and IBs that deal in virtual currencies.… Continue Reading

CFTC Staff Issues Interpretive Guidance Clarifying Commodity Trading Advisor Registration Requirements Resulting from the European Union’s MiFID II Research Compensation Provisions for Investment Managers

Posted in CFTC, Derivatives
On December 11, at the request of the Futures Industry Association (FIA), the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (Division) issued an interpretive letter regarding the “solely incidental” exclusion from registration as a commodity trading advisor (CTA). Under the relevant provisions of the Commodity Exchange Act and CFTC rules, a… Continue Reading

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 Extends Relief to CTAs With Third-Party Recordkeepers

Posted in CFTC, Derivatives
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) has issued exemptive relief to commodity trading advisors (CTAs) from the requirement to keep records under CFTC Regulations 4.7(c)(2) and 4.33 at the CTA’s main business office. As provided in the exemptive letter, a CTA may use a third-party recordkeeper so long… 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

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 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

CFTC Extends Continued No-Action Relief From Certain Recordkeeping Requirements

Posted in CFTC, Derivatives, Dodd-Frank Developments
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight and Division of Market Oversight (collectively, Divisions) have issued CFTC Letter No. 15-65, which indefinitely extends the no-action relief from certain recordkeeping requirements under CFTC Regulation 1.35(a), which was previously provided in CFTC Letter No. 14-147. (CFTC Letter No. 14-147 was discussed in… Continue Reading

CFTC Staff Exempts Certain CTAs From Filing Form CTA-PR

Posted in CFTC, Financial Markets
On July 21, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) granted exemptive relief to certain commodity trading advisors (CTAs) from the requirement in CFTC Regulation 4.27(c) to file a Form CTA-PR annually. The relief extends to CTAs that are registered with the CFTC but do not direct any trading… Continue Reading