Time-Limited No-Action Relief for Certain Members of a Designated Contract Market from the Requirement to Record Oral Communications, Pursuant to Commission Regulation 1.35(a), in Connection with the Execution of Swap Transactions

No-Action Relief from Compliance with Certain Requirements of Commission Regulation 3.3 Relating to the Chief Compliance Officer Annual Report (Mitsui & Co. Precious Metals, Inc.)

The CPO of a commodity pool requested relief from the Annual Report and certification requirements in Regulations 4.22(c) and (d), in order to permit it to file an Annual Report for the pool for the period from the date it began operations, December 1, 2013, to December 31, 2014. In support of its request, the CPO submitted waivers from all twelve of the pool’s participants evidencing their consent to the relief requested.

The Division of Swap Dealer and Intermediary Oversight confirmed the availability of Staff Letter 00-10, which provided CPO registration relief to a universitys cooperative extension service, its agents and employees, permitting them to offer courses that would allow certain students to trade commodity interests through participation in a trading club, notwithstanding certain amendments to the course and trading club criteria.

The Division of Swap Dealer and Intermediary Oversight (Division) took a CPO registration no-action position with respect to the operation of certain collective trading vehicles by either of two corporations (A and B) entirely controlled by a non-profit corporation (C) that is the coordinating organization for a denomination’s churches.

This letter provides relief for a CPO to combine a portion of a pool’s 2013 operations (the pool had a capitalization date in October 2013) with 2014 for the purposes of filing an audited Annual Report. As such, instead of requiring the CPO to incur the expense of preparing an audited Annual Report for the pool for the 3 month period ending December 31, 2013, the CPO would instead file an audited Annual Report for the period spanning October 1, 2013 through December 31, 2014.

The CPO of a commodity pool operating pursuant to an exemption under Regulation 4.7 requested exemptive relief from the requirement in Regulation 4.7(b)(3) and 4.22(d) that the financial statements in the pools annual report be audited. The CPO submitted waivers from all of the pools participants evidencing their consent to the relief requested. DSIO granted relief pursuant to Commission regulations 140.93 and 4.12(a) conditioned upon the filing and distribution of an uncertified Annual Report for fiscal year 2013 that otherwise complies with the provisions of Regulation 4.7(b)(3).

The CPO of a commodity pool operated pursuant to an exemption under Regulation 4.7 requested exemptive relief from that regulation’s annual report requirement, in order to permit the CPO to file an annual report for the pool for the period of January 1, 2013 through January 31, 2014. The CPO determined to wind up the Pool’s operations on January 23, 2014, and by January 31, the Pool had permanently ceased trading. On February 13, 2014, the CPO completed the winding up process and made final distributions to the pool’s 15 participants.

Best practices for complying with GLB Security Safeguards

The CPO of a commodity pool operated pursuant to an exemption under Regulation 4.7 requested exemptive relief from the requirement in Regulations 4.7(b)(3) and 4.22(d)(1) that the financial statements in the pool’s annual report be audited. At the end of the 2013 fiscal year, the pool had just one participant, who also is a controlling principal of the CPO and oversees the daily operations of both the CPO and the pool.