The Division of Clearing and Intermediary Oversight provided no-action relief to the general partner of a commodity pool operator (CPO) from registering as such pursuant to Section 4m(1) of the Commodity Exchange Act (Act), and allowing a registered CPO (designee) to serve as the CPO instead. This relief is subject to conditions that: (1) the designee must serve as the CPO of the pool; and (2) the designee must remain registered as a CPO; (3) the general partner is not subject to a statutory disqualification under Section 8a(2) or 8a(3) of the Act; (4) the general partner and the designee are under common ownership and control; (5) the general partner has delegated all of its management authority to the designee pursuant to its limited partnership agreement and its investment management agreement; (6) the general partner has no employees acting on its behalf, does not engage in the solicitation of investors for the pool, does not manage property of the pool, and does not engage in any other activities that are subject to the Act or Commission regulations; and (7) the general partner and designee have executed and submitted to the Division a written acknowledgement of joint and several liability for any violation by either of them of the Act or the Commission’s regulations.