Tue, Dec 12, 2017
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

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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. Opalesque Exclusive: Credit Suisse Asset Management's NEXT Investors leads $6M Series A round for LUX Technology and Services[more]

    Bailey McCann, Opalesque New York: Credit Suisse Asset Management's NEXT Investors has led a $6 million Series A funding round for LUX Technology and Services, a business and technology solutions provider for the alternative assets industry. The investment will be used to fuel growth of Trans