Regulatory Alerts2020-07-08 | 2020-12607Registration and Compliance Requirements for Commodity Pool Operators and Commodity Trading Advisors: Prohibiting Exemptions on Behalf of Persons Subject to Certain Statutory Disqualifications
The Commodity Futures Trading Commission adopted a final rule amending Regulation 4.13 to prohibit persons with statutory disqualifications under the Commodity Exchange Act from claiming commodity pool operator registration exemptions. The rule requires any person filing a notice to claim such an exemption to represent that neither they nor their principals have backgrounds containing specific disqualifications that would require disclosure if they sought registration. This measure aims to enhance customer protection by ensuring that individuals barred from registration cannot operate exempt commodity pools, with compliance required for the 2021 filing cycle or upon first filing after the effective date.
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