RegAlert2017-08-02 | CFTC Staff Letter 17-47Added · Updated
CFTC Staff Letter 17-47: No-Action Relief for Entities B and C from CPO Registration via Delegation to A
The Division of Swap Dealer and Intermediary Oversight grants no-action relief to entities B and C, allowing them to avoid registering as commodity pool operators for specified pools by delegating CPO responsibilities to entity A. This relief applies provided that B and C delegate all CPO rights and obligations to A, maintain no involvement in solicitation or property management, and execute legally binding documents establishing joint and several liability with A. The Division will not recommend enforcement action against B or C for failure to register under Section 4m(1) of the Commodity Exchange Act, contingent upon the continued accuracy of the representations made regarding their operations and A's registered status.
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Division of Swap Dealer and Eileen T. Flaherty Intermediary Oversight Director U.S. COMMODITY FUTURES TRADING COMMISSION Three Lafayette Centre 1155 21st Street, NW, Washington, DC 20581 Telephone: (202) 418-6700 Facsimile: (202) 418-5528 eflaherty@cftc.gov CFTC Letter No. 17-47 No-Action Division of Swap Dealer and Intermediary Oversight RE: Request for No-Action Relief from the Requirement to Register as a Commodity Pool Operator under Section 4m(1) of the Commodity Exchange Act Dear :
This is in response to your letters dated May 22, 2017, to the Division of Swap Dealer and Intermediary Oversight (“Division”) of the Commodity Futures Trading Commission (“Commission”). In the letters, you request on behalf of “A”, “B”, and “C”, that “B” and “C” receive relief from the requirement to register with the Commission as commodity pool operators (“CPO”) under section 4m(1) of the Commodity Exchange Act (“CEA” or “Act”) 1 in connection with their roles as managers of certain commodity pools listed in Appendix A (the “Pools”). 2
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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.