CFTC Staff Letters Archive

CFTC Staff Letters Archive provides Letters from 2007 and earlier. For Letters published 2008 or later visit the All Letters page.

There are no Advisory Letters or Other Written Communications for 2007 or earlier.

Date	PDF and Description
04/17/2001	01-36 ; Rule 4.22(c).;; No-Action The CPO of a pool requested exemption from the requirement of Rule 4.22(c) that the pool's 2000 Annual Report be distributed. The Pool's only participants were its general partners and a member of the co-CPO. Given the proprietary nature of the Pool, a statement from the participants was not necessary nor the distribution of a 2000 uncertified report. The Pool operates pursuant to a Rule 4.7 exemption.
04/04/2001	01-34 ; Rule 4.22; Rule 4.7;; No-Action A registered CPO requested, under Rule 4.22(f)(1), an extension of time to file Annual Reports containing the information required by Section 4.7 for its pools' year-end 2000. The CPO submitted a statement from the pool's accountant. Based on supporting documentation, the request for relief was granted for the pools.
04/03/2001	01-33 ; Rule 4.22(c) and (d);; No-Action The CPO of a pool in the process of liquidation requested exemption from the requirement of Rule 4.22 (d) that the pool's 2000 Annual Report be audited. The CPO also requested that the closeout report be exempted from the certification requirements of 4.22(d). The partnership had only two investors that held remaining interests of less than one-half million dollars and would bear the costs of the certified Annual Report. The participants supported the request. The request included the unaudited report for the period January 1, 2000, through December 31, 2000. The exemption was granted upon the condition that: (1) the pool's closeout report include the period from January 1, 2001, through May 31, 2001, and (2) the CPO distribute an unaudited closeout report for the period from January 1, 2001, through May 31, 2001, to the participants.
04/03/2001	01-32 ; Rule 4.22(c) and (d);; No-Action The CPO of a pool that started trading in September 2000 requested exemption from the requirement of Rule 4.22(d) that the pool's 2000 Annual Report be audited. The participants supported the request. The exemption was granted. The CPO filed a 4.7 exemption notice in February 2001 and future filings of financial information on behalf of the pool must be made pursuant to Rule 4.7.
04/02/2001	01-31 ; Regulation 1.25(c)(5);; No-Action The Division of Trading and Markets provided an interpretative letter to the Board of Trade Clearing Corporation regarding the requirement contained in Rule 1.25(c)(5) that a money market mutual fund, which constitutes an investment of customer segregated funds of a futures commission merchant or clearing organization, must be able to redeem an interest in the fund within one day following a redemption request. The Division's interpretation states that the permitted circumstances under which a delay beyond the one-day requirement are: (1) non-routine closure of the Fedwire (or applicable Federal Reserve banks); (2) non-routine closure of the NYSE or general market conditions leading to a broad restriction of trading on the NYSE, i.e., a restriction of trading due to market-wide events; or (3) declaration of a market emergency by the SEC.
04/02/2001	01-30 ; Rule 4.23;; No-Action A CPO requested relief from the requirement of the books and records location of Rule 4.23. The CPO was permitted to keep its books and records at a location rather than its main business office. The CPO was permitted to maintain its books and records at the main business office of the entity that provides administrative services to the CPO.
03/30/2001	01-29 ; Rule 4.22(d);; No-Action The CPO of a pool that commenced trading September 1, 2000, requested exemption from the requirement of Rule 4.22(d) that the pool's 2000 Annual Report be audited. The Pools' only participant was its sponsor/manager. Given the proprietary nature of the Pool, a statement from the participant was not necessary nor the distribution of a 2000 uncertified report. The exemption was granted upon condition that the audited 2001 report include the 2000 data.
03/29/2001	01-28 ; Rule 4.22(d);; No-Action The CPO of a pool was dissolved by the end of December 2000 and requested exemption from filing a certified Annual Report for year-end. The participants submitted statements in support of the exemption. The exemption was granted upon condition that an unaudited 2000 Annual Report be provided to the participants.
03/29/2001	01-27 ; Rule 4.22(d);; No-Action The CPO of a pool, which commenced trading November 2000, requested exemption from the requirement of Rule 4.22(d) that the pool's 2000 Annual Report be audited. The participants supported the request. The exemption was granted upon condition that: (1) an unaudited 2000 Annual Report is provided to the participants, Commission and NFA, and (2) the audited 2001 report will include the 2000 data.
03/29/2001	01-26 ; Rule 4.22(c) and (d);; No-Action The CPO of a pool, which ceased operations in February 2001, requested exemption from the requirement of Rule 4.22(c) and (d) that the pool's 2000 Annual Report be certified and distributed, and that the CPO be allowed to file a certified Annual Report for the 14-month period from January 2000 through February 28, 2001. The request was granted.