CFTC Staff Letters

A CPO requested exemptive relief from the annual report requirement in Regulation 4.7(b)(3), to allow it to file an annual report for its exempt pool for the period from November 10, 2015, the date the pool began trading, to December 31, 2016. DSIO granted relief conditioned upon the future filing and distribution of a certified Annual Report for the period from November 10, 2015 to December 31, 2016.

Exemptive relief granted to a CPO of a pool that permanently ceased trading in March 2016 from providing an annual report for fiscal year 2015; provided, that the CPO provide an annual report that covers the period from January 1, 2015 to March 31, 2016. The CPO has provided a waiver from the lone outside participant of the pool.

Exemptive relief granted to a CPO of pools that began operations at the end of September 2015 from providing annual reports for fiscal year 2015; provided, that the CPO provide an annual report that covers the period from the beginning of operations to the end of fiscal year 2016 after the end of fiscal year 2016. The CPO has provided waivers from all participants of the pools.

Exemptive relief granted to a CPO of a fund complex from: (1) Filing with NFA and distributing to the participants of the Intermediate Fund an audited annual report of the Feeder Fund; and (2) Filing with NFA Form CPO-PQR for the Intermediate Fund. This relief allows the CPO to prepare one audited annual report and one CPO-PQR at the Feeder Fund-level for both the Feeder Fund and the Intermediate Fund.

Consistent with CFTC Staff Letters 12-37 and 14-143, and its past practice in this area, the Division granted no-action relief from CPO and CTA registration to a family office that provides investment management and advisory services to a single family.

The CPO of an exempt commodity pool with three participants, all of whom are managing members of the CPO, requested relief from the audit requirement in Regulations 4.7(b)(3) and 4.22(d)(1). DSIO granted relief for the pool’s 2015 annual report, conditioned upon the filing and distribution of an uncertified annual report for the 2015 fiscal year that otherwise complies with Regulation 4.7(b)(3).

The CPO of an exempt commodity pool requested relief from the audit requirement in Regulation 4.22(d)(1), on the basis that the pool’s two participants are owners of the CTA managing the pool assets. DSIO granted relief for the 2015 annual report, conditioned upon the filing and distribution of an uncertified 2015 annual report that otherwise complies with Regulation 4.7(b)(3).

A CPO requested exemptive relief from the annual report requirement in Regulation 4.7(b)(3), to allow it to file an annual report for its exempt pool for the period from December 29, 2015, the date the pool began trading, to December 31, 2016. DSIO granted relief conditioned upon the future filing and distribution of a certified Annual Report covering that period.

A CPO requested exemptive relief from the annual report requirement in Regulation 4.7(b)(3), to allow it to file an annual report for its exempt pool for the period from December 23, 2015, the date the pool began trading, to December 31, 2016. DSIO granted relief conditioned upon the future filing and distribution of a certified Annual Report covering that period.

A CPO requested exemptive relief from the annual report requirement in Regulation 4.7(b)(3), to allow it to file an annual report for its exempt pool for the period from November 2, 2015, the date the pool began trading, to December 31, 2016. DSIO granted relief conditioned upon the future filing and distribution of a certified Annual Report for that 14-month period