DSIO granted exemptive relief to the operators of funds to provide monthly account statements to participants within 45 days of the month end rather than provide quarterly account statements within 30 days of the quarter end.

The Division provided exemptive relief from certain provisions of Regulations 4.7(b) and 4.13(a)(3) that, among other things, restrict marketing to the public. This letter harmonizes these Commission regulations with Rule 506(c) of Regulation D and Rule 144A, which, as amended by the Securities and Exchange Commission pursuant to the Jumpstart Our Business Startups Act of 2012, permit general solicitation or general advertising, subject to specific conditions.

No-action letter permitting, subject to certain conditions, commodity pool operators of certain commodity pools that are non-registered investment companies (“Parent Pools”) that use wholly-owned trading subsidiaries to trade in commodity interests (“Trading Subsidiaries”) to consolidate the annual reports required to be submitted to the National Futures Association (“NFA”) pursuant to Commission regulation 4.7(b) or 4.22(c), as applicable, and the CPO-PQR reports required to be submitted to NFA pursuant to Commission regulation 4.27(c) for the Trading Subsidiaries with those of their Paren

The CPOs of a pool requested an extension of time for the filing of the pool’s 2009 annual report beyond June 29, 2010, due to a delay in the receipt of financial statements from investee pools. DCIO determined that the interests of participants in receiving timely information outweighed the CPOs’ hardship and DENIED the request.

The CPOs of two pools requested an extension of time for the filing of the pools’ 2009 annual reports beyond June 29, 2010 due to a delay in the receipt of financial statements from investee pools. DCIO determined that the interests of participants in receiving timely information outweighed the CPOs’ hardship and denied the request.

The CPOs of two pools requested an extension of time for the filing of the pools’ 2008 annual reports beyond June 29, 2009 due to a delay in the receipt of financial statements from investee pools. DCIO determined that the interests of participants in receiving timely information outweighed the CPOs’ hardship and DENIED the request.

The Division of Clearing and Intermediary Oversight granted exemptive relief from the books and records location requirement of Regulations 4.7 and 4.23.