Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance Obligations; Proposed Rule
CFTC Dodd-Frank Rulemaking
76 Fed. Reg. 7976
February 8, 2011
Closing Date: April 12, 2011
The CFTC is proposing to amend its existing regulations and proposing one new regulation regarding Commodity Pool Operators and Commodity Trading Advisors. The Commission is proposing a new data collection for CPOs and CTAs that is consistent with the data collection required under the Dodd-Frank Act. The proposed amendments would:
Rescind the exemptions from registration provided in the Commission's regulations; rescind the relief from the certification requirement for annual reports provided to operators of certain pools only offered to qualified eligible persons ("QEPs"); modify the criteria for claiming relief under the Commission's regulations; and require the annual filing of notices claiming exemptive relief. The proposals would also reinstate trading criteria for exclusion from the CPO definition and removing exemptive relief from the certification requirement for pool annual reports and incorporating accredited investor definition. Finally, the proposal includes new risk disclosure requirements for CPOs and CTAs regarding swap transactions.
This proposed rule was previously summarized in its pre-Federal Register form in the Daily Update of January 31, 2011.
Cross References
Dodd-Frank Act, Title VII, Secs. 404 406; 17 CFR Parts 4, 145, and 147