NFA Notice to Members: Pre-Filing for CFTC Exemptions

To assist persons currently operating a pool pursuant to an exemption to CFTC Rule 4.13(a)(4) (Exemption From Registration as a Commodity Pool Operator) (which exemption is disappearing at the end of this year) that will be able to qualify for an exemption under CFTC Regulations 4.7, 4.12 or CFTC Advisory 18-96, NFA is modifying its Electronic Exemption System to permit these persons to pre-file for the applicable exemption.

Lofchie Comment: Numerous funds are going to lose their Rule 4.13 exemption and it is to be expected that the NFA will be flooded both with new registrants and persons changing their exemptive status. Clients wishing to discuss the regulatory status of any particular fund, and its related operator and advisor, may contact their regular Cadwalader attorney.

View notice here (links externally to NFA website).

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