Regulatory Alerts2020-12-07 | 2020-23810Exemption From Registration for Certain Foreign Intermediaries
The Commodity Futures Trading Commission adopted a final rule revising the conditions under which foreign located persons acting as commodity pool operators qualify for an exemption from registration. The rule permits non-U.S. commodity pool operators to claim the exemption on a pool-by-pool basis and clarifies that they may concurrently utilize other exemptions or maintain registrations for other pools. Additionally, the Commission established a safe harbor for inadvertent U.S. participants and allowed U.S. affiliates to contribute initial capital to offshore pools without jeopardizing the operator's exempt status.
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