CFTC Issues No-Action Relief from Financial Statement Requirements to CPO of ILS Vehicle (CFTC Letter 14-145)

The CFTC issued no-action relief from the commodity pool operator ("CPO") financial statement requirements of CFTC Rule 4.22 and the disclosure requirements of Rule 4.24(s) with respect to an insurance-linked securitization vehicle ("ILS Vehicle").

The relief was granted on the condition that the CPO provides specified disclosures and monthly statements that include information concerning the assets of the ILS Vehicle and the terms of, and payments under, the related swap.

See: CFTC Letter 14-145.