CFTC Grants Exemptive Relief to Certain CPOs from Annual Reporting Requirements (CFTC Letters 16-50, 16-51)

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") granted exemptive relief to two commodity pool operators ("CPOs") from having to file and distribute annual reports within 90 days of the close of the pool's fiscal year.

In CFTC Letter 16-50, the CFTC granted relief to a CPO from the annual report requirement in CFTC Rule 4.7(b)(3) to allow it to file a 13-month Annual Report for its exempt pool for the period from November 10, 2015, the date the pool began trading, to December 31, 2016. DSIO granted relief conditioned upon the future filing and distribution of a certified Annual Report for that time period.

In CFTC Letter 16-51, the CFTC granted relief to a CPO of a two-pool master fund complex where the feeder fund was the master fund's sole participant from the annual report requirement in CFTC Rule 4.7(b)(3) to allow it to file an annual report for its exempt pool for the period from December 1, 2015, the date the pool began trading, to December 31, 2016. DSIO granted relief conditioned upon the future filing and distribution of a certified Annual Report for that 13-month period.