NFA Requests Notification from CTAs Using Third-Party Recordkeepers

The National Futures Association ("NFA") requested notification by commodity trading advisors ("CTAs") when they file notices of claim pursuant to certain CFTC exemptive relief related to third-party recordkeeping.

The CFTC Division of Swap Dealer and Intermediary Oversight issued exemptive relief that allows a CTA to store records with third-party recordkeepers (see previous coverage). Without the exemption, a CTA is required to store records at its primary business office, in accordance with CFTC Regulations 4.33 and 4.7(c)(2). The NFA also requested that a CTA enter relevant information via the NFA Exemptions System after filing a notice of claim in order to utilize the available exemption.