RegAlert2010-06-28 | CFTC Staff Letter 10-24Added · Updated
CFTC Staff Letter 10-24: Exemption from Part 4 Regulations for Commodity Pools Listed on National Securities Exchanges
The Division of Clearing and Intermediary Oversight grants exemptive relief to a registered commodity pool operator from specific disclosure, reporting, and recordkeeping requirements under Regulations 4.21, 4.22, and 4.23 for five commodity pools whose shares are listed for trading on a national securities exchange. The exemption permits the operator to maintain required information on its website rather than delivering physical disclosure documents or monthly account statements to public purchasers, and allows books and records to be kept at the offices of the administrator or distributor instead of the operator's main business office. This relief is conditional upon the operator ensuring the information remains current online, notifying the Division and NFA of any changes in record locations, and making original records available for inspection at its Jersey City, New Jersey office within forty-eight hours of a request.
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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 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 Ananda Radhakrishnan Director CFTC Letter No. 10-24 Exemption June 28, 2010 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 commodity pools whose units of participation will be listed for trading on a national securities exchange Dear :
This is in response to your letter dated March 11, 2010 to the Division of Clearing and Intermediary Oversight (the “Division”) of the Commodity Futures Trading Commission (the “Commission”), as supplemented by your letter dated May 20, 2010 and by e-mail messages dated May 20 and 21, 2010 (the “correspondence”). By the correspondence, you request on behalf of a registered commodity pool operator (“CPO”), “A” (“The CPO”), exemption from certain provisions of Commission Regulations 4.21, 4.22, and 4.23,1 which concern, respectively, the disclosure, reporting and recordkeeping requirements applicable to registered CPOs, in connection with The CPO’s operation of the following commodity pools (the “Funds” and each individually a “Fund”): “B”; “C”; “D”; “E”; and “F”. Based upon the representations made in the correspondence, we understand the facts to be as follows. The offering and sale of units of participation (“Shares”) of each Fund will be made pursuant to an effective registration statement filed with the Securities and Exchange Commission (“SEC”) (the “Registration Statement”), and the Fund’s Shares will be listed for trading on a national securities exchange.2 Each Fund has been structured and will be operated
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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.