RegAlert2004-04-02 | CFTC Staff Letter 04-12Added · Updated
CFTC Staff Letter 04-12: No-Action Relief for Energy Management Firm's Commodity Trading Advice
The Division of Clearing and Intermediary Oversight grants no-action relief to a privately held energy management company, allowing it to provide commodity trading advice without registering as a commodity trading advisor. This exemption applies specifically to services provided to customers who qualify as eligible contract participants, where trading activities are limited to hedging transactions linked to the clients' underlying energy needs. The company must not hold customer funds, must not market trading services separately, and must notify the Division immediately if its operations or customer base change materially.
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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5438
Facsimile: (202) 418-5547 jcarley@cftc.gov
11111
Division of Clearing and
Intermediary Oversight
James L. Carley
Director
CFTC letter No. 04-12
April 2, 2004
No-Action
Division of Clearing and Intermediary Oversight Re: Request for No-Action Relief on Behalf of “X” Dear :
This is in response to your letter dated January 28, 2004 to the Division of Clearing and Intermediary Oversight (“Division”) of the Commodity Futures Trading Commission (“Commission”) on behalf of your client, (“Company”), as supplemented by additional correspondence1 and telephone conversations with Division staff.2 By your letter, you request written assurance in the form of a no-action letter that the Division will not recommend any enforcement action against the Company for failure to register as a commodity trading advisor (“CTA”) under the Commodity Exchange Act (“Act”) based on the similarities between the Company and the energy management firm that was granted no-action relief from CTA registration in Staff Letter No. 02-59.3
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Source: Commodity Futures Trading Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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CFTC published 6 documents in the last 30 days. We email you each new one the day it's published.