September 9, 2014

CFTC Staff Issues Exemptive Letter Providing Relief from Certain Agency Regulations to be Consistent with JOBS Act SEC Amendments

Washington, DC — The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued an exemptive letter, which provides relief from certain provisions of Regulations 4.7(b) and 4.13(a)(3) restricting marketing to the public.

This exemptive letter harmonizes Regulations 4.7(b) and 4.13(a)(3) with Rule 506(c) of Regulation D and Rule 144A, which, as amended by the Securities and Exchange Commission (SEC) pursuant to the Jumpstart Our Business Startups Act (JOBS Act), permit general solicitation or advertising subject to specific conditions.

CPOs wanting to rely upon this exemptive letter must first meet the conditions of relief, which include filing a notice with DSIO staff. The relief this exemptive letter provides will remain in place until the effective date of any final Commission action in consideration of the JOBS Act and the SEC’s amendments.

Last Updated: September 9, 2014