Opalesque Industry Update: The CFTC recently granted no-action relief to family offices that are commodity pool operators ("CPOs") from CPO registration with the CFTC. This relief is not self-executing; a family office that is a CPO must provide notice to the CFTC in order to claim the relief. Required Conditions for No-Action Relief Eligibility To qualify for the relief, a CPO that is a family office must:
As the no-action relief is not self-executing, an eligible family office CPO must file a claim with the CFTC via email requesting the relief. Provided that the claim is complete, the relief will be effective upon filing. The claim for the no-action relief must:
Deadlines for Claiming the Relief For a family office in operation as of December 1, 2012, the claim must be emailed to the DSIO prior to December 31, 2012. For a family office that begins to operate after December 1, 2012, the claim must be emailed to the DSIO within 30 days after it begins to operate as a family office. Press Release BM
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Industry Updates
CFTC grants no-action relief from registration to family offices that are commodity pool operators
Tuesday, December 11, 2012
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