CFTC Staff Letters Archive

CFTC Staff Letters Archive provides Letters from 2007 and earlier. For Letters published 2008 or later visit the All Letters page.

There are no Advisory Letters or Other Written Communications for 2007 or earlier.

Date	PDF and Description
04/04/2002	02-34 ; Rule 4.22(f)(1);; No-Action A registered CPO of a pool requested an extension to file its audited report for the pool's fiscal year ending December 31, 2001. Pool is in process of final liquidation and CPO requested an exemption from filing under the condition that a final certified audit covering the entire nine-month operating history be filed when completed. The extension was granted conditioned on the CPO filing a non-certified annual report.
04/04/2002	02-31 ; Rule 4.22(f)(1);; No-Action A registered CPO requested, under Rule 4.22(f)(1), an extension of time to file its audited report. The fund transferred and reorganized from an entity domiciled in the United States to a new entity domiciled offshore. The Fund has new auditors and are now regulated by other jurisdictions with different financial reporting requirements. Based on supporting documentation, the request for relief was granted for the CPO until June 29, 2002.
04/04/2002	02-30 ; Rule 4.22(f)(1);; No-Action A registered CPO requested, under Rule 4.22(f)(1), an extension of time to file its audited report. The Fund is an entity domiciled in Luxembourg with records also maintained in London and the United States. The Fund's auditors are now required to comply with financial reporting requirements of multiple jurisdictions, including U.S. GAAP. Based on supporting documentation, the request for relief was granted for the CPO until June 30, 2002.
04/02/2002	02-38 ; Section 2(a);; No-Action Eurex Deutschland's request for no-action relief in connection with the offer and sale of its futures contracts based on the Dow Jones STOXX 600 Banking Sector Index and Dow Jones EURO STOXX Banking Sector Index in the United States.
03/27/2002	02-33 ; Rule 4.22(f)(1);; No-Action A registered CPO requested, under Rule 4.22(f)(1), an extension of time to file its audited report. The CPO did not have the audited reports of three investee pools and had been informed that the reports would not be available prior to late May 2002. The CPO submitted a statement from the pool's accountant and provided information regarding the investee pools. Based on supporting documentation, the request for relief was granted for the CPO until June 30, 2002.
03/27/2002	02-32 ; Rule 4.22.(F)(1);; No-Action A registered CPO requested, under rule 4.22(f)(1), an extension of time to file its audited report. The CPO did not have the audited reports of investee pools and had been informed that the reports would not be available prior to late May 2002. The CPO submitted a statement from the pool's accountant and provided information regarding the investee pools. Based on supporting documentation, the request for relief was granted for the CPO until June 15, 2002.
03/25/2002	02-28 ; Rule 4.22(c) & (d);; No-Action The CPO of a small fund requested exemption from filing an Annual Report for year ending December 2001. The participants, all principals of the CPO, submitted statements in support of the exemption. The exemption was based on the closely held nature of the fund.
03/21/2002	02-27 ; Sections 4e, 4k(5) and 4f(a)(3);; No-Action A registered securities exchange asked for confirmation that its members who are individual traders and executing brokerage firms and meet the requirements of Sections 4k(5) and 4f(a)(3) of the Act, respectively, are, therefore, exempt from the registration requirements of Section 4e of the Act. Regarding individual traders, the Division confirmed that, if the traders are associated persons of registered securities broker-dealers (BDs), as represented in the request, and limit their solicitation, acceptance, execution, or placing of orders on behalf of others involving futures contracts, or options thereon, to security futures products, then they meet the requirements of Section 4k(5) of the Act and, therefore, are exempt from, among other provisions, Section 4e of the Act. Additionally, the Division confirmed that, if the executing brokerage firms are, as represented in the request, BDs registered with the SEC and such registration has not been suspended pursuant to an order of the SEC and they limit their activities on behalf of others involving futures contracts to security futures products, then they meet the requirements of Section 4f(a)(3) of the Act and, accordingly, they are exempt from the registration requirements of Section 4e of the Act.
03/13/2002	02-25 ; Rule 4.22(d);; No-Action The CPO of a pool that was capitalized in December 2001 requested exemption from the requirement of Rule 4.22(d) that the pool's 2001 Annual Report be audited. The participants supported the request. The exemption was granted.
03/08/2002	02-29 ; Sections 5 and 5s of the Act;; No-Action The Division of Trading and Markets issued a letter granting no-action relief to permit the MEFF Sociedad Holding de Productos Financieros Derivados S.A., which wholly owns MEFF Sociedad Rectora de Productos Financieros Derivados de Renta Variable (MEFF RV) and MEFF Sociedad Rectora de Productos Financieros Derivados de Renta Fija (MEFF RF), to make its electronic trading and order matching system, known as MEFF S/MART, available to MEFF RV and MEFF RF members (including members of the Chicago Mercantile Exchange who are granted the right of access to MEFF contracts pursuant to the GLOBEX? Alliance Agreement) in the US without obtaining contract market designation or registering as a derivatives transaction execution facility pursuant to Sections 5 and 5a of the CEA.