commodity pool operator

Originally published at The Asset Management ADVocate, and available here.

Good day.  Good that January is almost over (recognizing that our friends and readers in Australia and other Southern Hemisphere locales are enjoying the blissful days of early to mid-summer – enjoy it for us “up here”).  DR2

3 Things About…

This is an inaugural post in an occasional series that will attempt to distill a select current event to its essence.

Consistent with the (arguably bland yet) very accurate name of our blog, the focus of this series will be on regulatory and transactional issues related to derivatives and repurchase agreements.  Our first topic is..

…The CFTC’s Proposed Amendments to Form CPO-PQR


Continue Reading 3 Things About…The CFTC’s Proposed Amendments to Form CPO-PQR

On Februrary 10th, the National Futures Association (“NFA”) announced that it was making two changes to its EasyFile system.  Both changes relate to the information that is required to be filed by a commodity pool operator (CPO) in respect of annual pool financial statements.  In particular, a CPO must now:
Continue Reading Attention CPOs: NFA Now Requires Cover Page and An Additional Financial Item

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 2015 as:

  • an exempt commodity pool operator (“CPO”) under Commodity Futures Trading Commission (“CFTC”) Regulation 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), or 4.13(a)(5);
  • an excluded CPO under CFTC Regulation 4.5; or
  • an exempt commodity trading advisor (“CTA”) under CFTC Regulation 4.14(a)(8).

These annual affirmations are due by March 2, 2015.

The remainder of this posting is an overview of the NTM, which is available here.


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