Sat, Oct 25, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

CFTC releases critical guidance for commodity pool operators

Tuesday, May 20, 2014

Bailey McCann, Opalesque New York:

The Commodities Futures Trading Commission (CFTC) is out with new important guidance for commodity pool operators (CPOs). This guidance comes from numerous requests for no-action relief on failing to register as a commodity pool operator if, another person would serve as the registered CPO of the commodity pool at issue in lieu of the requesting CPO. The regulator said it has created a new streamlined framework for dealing with these requests given their volume in an effort to make the process more efficient for firms that meet the criteria.

The regulator has also modified its view of requiring independent directors of a private fund, as a condition of delegation, to agree to remain jointly and severally liable for any violations of the Commodity Exchange Act. Lawyers for Schulte Roth and Zabel issued a client alert today detailing some of the criteria. The lawyers were quick to point out that while the process for seeking no-action relief is now streamlined, in many cases seeking relief still requires an individual, or case-by-case decision.

"While recognizing the need for more efficiency and certainty in this process, however, in the May guidance, the CFTC staff held to the position that CPO delegation requires individual no-action relief. The CFTC staff did, however, establish a more streamlined process for obtaini......................

To view our full article Click here

Banner

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  2. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  3. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t