Reminder - action to be taken by 01 March 2017 to continue CPO and CTA exemptions

Managers claiming exemption or exclusion from Commodity Pool Operator (CPO) or Commodity Trading Advisor (CTA) registration under certain CFTC Regulations must affirm their notice of exemption or exclusion by 01 March 2017.

Since February 2012:

  • any CPO which claims an exemption or exclusion from CPO registration under CFTC Regulation 4.5 or Regulation 4.13 - including Rule 14.13(a)(3), or 
  • any CTA which claims an exemption from CTA registration under Regulation 4.14(a)(8)

has been required to affirm their notice of exemption or exclusion annually within 60 days of the calendar year end (ie, by 01 March 2017).

Failure to affirm an active exemption or exclusion from CPO or CTA registration within this timeframe will result in the exemption/exclusion being automatically withdrawn.

For registered CPOs or CTAs, withdrawal of the exemption/exclusion will result in the firm being subject to Part 4 Requirements whether or not the firm otherwise remains eligible for the exemption/exclusion.

Please note:

A more detailed briefing on this development is available on the Seward & Kissel website.

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.