Category: Commodity Trading Advisors

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Attention Non-U.S. Funds and Advisers: Registration Exemption for Offshore CPOs, CTAs and IBs That Use Non-Cleared Derivatives

On February 12th, the Division of Swap Dealer and Intermediary Oversight (the “Division”) of the United States Commodity Futures Trading Commission (“CFTC”) issued CFTC Letter No. 16-08.  This no-action letter clarifies that an intermediary located outside of the United States (a “Foreign Intermediary”) will not need to register as commodity pool operator (“CPO”), a commodity … Continue Reading

CPOs and CTAs: Affirm Exemptions Before February 29, 2016

Happy New Year! As a reminder, any person claiming certain relief from the requirement to register as a commodity pool operator (CPO) or commodity trading advisor (CTA) must submit an annual affirmation to the National Futures Association (“NFA”) by February 29, 2016. In particular, such affirmation must be filed by any person relying on the exemption … Continue Reading

NFA Notice to Members I-15-02: Affirm CPO/CTA Exemptions and Exclusions by March 2nd, NFA Members Given Tools to Monitor Affirmations

On January 15th, the National Futures Association (“NFA”) issued its Notice to Members I-15-02 (the “NTM”). The NTM will be of interest to NFA Members, such as futures commission merchants (“FCMs”) and introducing brokers (“IBs”), and any entity in a mutual or hedge fund complex that has not yet affirmed its status for calendar year … Continue Reading
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