RegAlert2014-10-15 | CFTC Staff Letter 14-126Added · Updated
CFTC Staff Letter 14-126: Self-Executing Registration No-Action Relief for Delegating CPOs
The Division of Swap Dealer and Intermediary Oversight provides self-executing no-action relief from Commodity Exchange Act Section 4m(1) registration requirements for Delegating Commodity Pool Operators who delegate all investment management authority to a registered Designated CPO. Relief is available if specific criteria are met, including the absence of statutory disqualification, the maintenance of books and records by the Designated CPO, and joint and several liability agreements for non-natural persons. This letter replaces the streamlined approach of Letter 14-69, rendering pending requests under that prior letter unnecessary while allowing reliance on previously granted relief.
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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-6700
Facsimile: (202) 418-5547 gbarnett@cftc.gov
Division of Swap Dealer and
Intermediary Oversight
Gary Barnett
Director
CFTC Letter No 14-126
No-Action
October 15, 2014
Division of Swap Dealer and Intermediary Oversight Re: CEA Section 4m(1) – Self-Executing Registration No-Action Relief for Delegating CPOs when Certain Requirements are Satisfied
I. Introduction.
By this letter, the Division of Swap Dealer and Intermediary Oversight (“DSIO” or “Division”) of the Commodity Futures Trading Commission (“CFTC” or “Commission”) is issuing no-action relief from the requirement to register as a commodity pool operator (“CPO”) under Section 4m(1) of the Commodity Exchange Act (“Act” or “CEA”) 1 to persons who have delegated certain of their responsibilities as a CPO of a commodity pool (“Delegating CPO”) to another person who is registered as a CPO (“Designated CPO”), such that the Designated CPO will serve as the CPO of the pool in lieu of the Delegating CPO. This relief is self-executing, such that no notice or claim needs to be filed to take advantage of it. However, as explained in Section III below, the availability of this relief is limited to certain circumstances and is subject to compliance with certain conditions. This letter constitutes a further progression of the relief addressed in CFTC Staff Letter No. 14-69 (“Letter 14-69”). 2 Accordingly, the Division will no longer consider requests for CPO registration no-action relief pursuant to the streamlined approach described in Letter 14-69,
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Lineage: In force
Show all related documents (23)
- Supersedes
- CFTC Staff Letter 14-69: Streamlined Approach for CPO Registration No-Action Relief on Delegation2014
- Issued under
- Commodity Exchange Act1936
- Referred to by
- CFTC Staff Letter 26-06: No-Action Position on CPO and CTA Registration for Certain Private Funds and Delegation Arrangements2026CFTC Staff Letter 19-11: No-Action Relief from CPO Registration for Entity A2019CFTC Staff Letter 19-20: No-Action Relief from CPO Registration for Entity A2019CFTC Staff Letter 19-04: No-Action Relief from CPO Registration for Entity B2019CFTC Staff Letter 19-05: No-Action Relief from CPO Registration for Entity B Delegates Responsibilities to Registered Entity A2019CFTC Staff Letter 18-23: No-Action Relief for Entity B from CPO Registration via Delegation to Entity A2018
+15 more
CFTC Staff Letter 18-24: No-Action Relief from CPO Registration for Entity B2018CFTC Staff Letter 18-35: No-Action Relief for General Partner of Commodity Pool from CPO Registration2018CFTC Staff Letter 18-37: No-Action Relief from CPO Registration for General Partner Delegating to Registered CPO2018CFTC Staff Letter 18-15: No-Action Relief from CPO Registration for Trustee Delegating to Registered CPO2018CFTC Staff Letter 18-16: No-Action Relief from CPO Registration for Entity A Acting as Trustee of Pool B2018CFTC Staff Letter 17-63: No-Action Relief from CPO Registration for Entity B2017CFTC Staff Letter 17-47: No-Action Relief for Entities B and C from CPO Registration via Delegation to A2017CFTC Staff Letter 17-38: No-Action Relief from CPO Registration for Delegating Entity2017CFTC Staff Letter 17-39: No-Action Relief from CPO Registration for Entity A2017CFTC Staff Letter 17-40: No-Action Relief from CPO Registration for Entity B via Delegation to Registered Entity A2017CFTC Staff Letter 17-42: No-Action Relief from CPO Registration for Entity B via Delegation to Entity A2017CFTC Staff Letter 17-15: No-Action Relief from CPO Registration for Entity B2017CFTC Staff Letter 17-09: No-Action Relief for Entity B from CPO Registration via Delegation to Entity A2017CFTC Staff Letter 17-01: No-Action Relief from CPO Registration for Entity B2017CFTC Staff Letter 14-145: Exemption from Financial Statement and Disclosure Requirements for Insurance-Linked Securitization Vehicle2014
Timeline
This document supersedes: CFTC Staff Letter 14-69: Streamlined Approach for CPO Registration No-Action Relief on Delegation
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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