RegAlert2008-01-11 | CFTC Staff Letter 08-01Added · Updated
CFTC Staff Letter 08-01: Exemption from Disclosure, Reporting, and Recordkeeping Requirements for Exchange-Traded Fund
The Division of Clearing and Intermediary Oversight grants exemptive relief to registered commodity pool operator A regarding the operation of an exchange-traded fund. The exemption relieves A from the requirement to obtain signed acknowledgments of Disclosure Document receipt under Regulation 4.21(b) and from distributing monthly Account Statements under Regulation 4.22, provided the relevant information is maintained on the fund's website. Additionally, the Division exempts A from keeping books and records at its main business office under Regulation 4.23, allowing records to be held by administrator E or distributor G, subject to conditions including notification of location changes and availability for inspection within forty-eight hours.
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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5430
Facsimile: (202) 418-5547 aradhakrishnan@cftc.gov Division of Clearing and Intermediary Oversight CFTC Letter No. 08-01 January 11, 2008 Exemption Division of Clearing and Intermediary Oversight Re: Regulations 4.21, 4.22 and 4.23 – Request for exemption from certain Disclosure Document, reporting and recordkeeping requirements in connection with the operation of the Fund. Dear :
This is in response to your letter dated December 21, 2007, to the Division of Clearing and Intermediary Oversight (the “Division”) of the Commodity Futures Trading Commission (the “Commission”), as supplemented by subsequent letters1 and e-mail messages (the “correspondence”). By the correspondence, you request, on behalf of “A”, a registered commodity pool operator (“CPO”), exemption from certain provisions of Commission Regulations 4.21, 4.22, and 4.23,2 which concern, respectively, the disclosure, reporting and recordkeeping requirements applicable to registered CPOs, in connection with “A” serving as the registered CPO of the Fund. Background Based upon the representations made in the correspondence, we understand the relevant facts to be as follows. Interests (“Shares”) in the Fund will be offered and sold to the public, pursuant to an effective registration statement filed with the Securities and Exchange Commission (“SEC”) (the “Registration Statement”).3 The Shares of the Fund will be both
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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.