Tue, Oct 21, 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. Opalesque Exclusive: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  2. 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

  3. 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

  4. 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

  5. Sparx optimistic about outlook for Japan[more]

    Benedicte Gravrand, Opalesque Geneva: According to SPARX, there are causes to be optimistic about the outlook for the Japanese market and the country's economy in general. Sparx Asset Management is a Tokyo-based asset manager, part of