RegAlert2012-12-07 | CFTC Staff Letter 12-44Added · Updated
CFTC Staff Letter 12-44: No-Action Relief from CPO Registration for Mortgage REITs
The Division of Swap Dealer and Intermediary Oversight grants no-action relief from Commodity Pool Operator registration requirements to operators of mortgage real estate investment trusts that limit initial margin and premiums to no more than 5 percent of total assets and restrict non-qualifying hedging income to less than 5 percent of gross income. Relief is contingent upon the entity not marketing its interests as a commodity pool and identifying itself as a mortgage REIT on Form 1120-REIT. Eligible operators must file a signed claim via email to dsionoaction@cftc.gov with the subject line "mREIT" by December 31, 2012, or within 30 days of operation for new entities.
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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5949
Facsimile: (202) 418-5547 gbarnett@cftc.gov
Division of Swap Dealer and
Intermediary Oversight
Gary Barnett
Director
CFTC Letter No. 12-44
No-Action
December 7, 2012
Division of Swap Dealer and Intermediary Oversight Re: No-Action Relief from the Commodity Pool Operator Registration Requirement for Commodity Pool Operators of Certain Pooled Investment Vehicles Organized as Mortgage Real Estate Investment Trusts The Division of Swap Dealer and Intermediary Oversight (the “Division”) has received numerous requests for no-action relief from the Commodity Pool Operator (“CPO”) registration requirement for operators of vehicles operated as mortgage real estate investment trusts (“mREITs”). 1
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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.