•  
• Tweet
•  
•  
•        Print
•  
•        Email
•  
•         Track Keywords

Required Conditions for No-Action Relief Eligibility

To qualify for the relief, a CPO that is a family office must:

• submit a claim to take advantage of the relief; and
• remain in compliance with the meaning and intent of a "family office" as defined in Rule 202(a)(11)(G)-1 of the Investment Advisers Act of 1940 (the "Advisers Act").[1]

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:

• state the name, main business address, and main business telephone number of the CPO claiming the relief;
• state the capacity (i.e., CPO) and, where applicable, the name of the pool(s) for which the claim is being filed;
• state that the CPO is a family office within the meaning and intent of Rule 202(a)(11)(G)-1 of the Advisers Act and that the CPO will notify the CFTC if it ceases to meet the family office definition;
• be electronically signed by the CPO; and
• be filed with the CFTC's Division of Swap Dealer and Intermediary Oversight (the "DSIO") by email at dsionoaction@cftc.gov using the subject line "Family Office."

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.

Sadis & Goldberg LLP

Press Release

BM