September 5, 2013

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues No-Action Letter for Commodity Pool Operators of Registered Funds with Controlled Foreign Corporations

Washington, DC — The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter to commodity pool operators of registered funds that trade in commodity interests through wholly-owned controlled foreign corporations (CFCs). The letter states that DSIO will not recommend that the CFTC take enforcement action against commodity pool operators of registered funds for failure to provide a separate report for their CFCs to the National Futures Association (NFA) pursuant to CFTC regulation 4.27(c) and a separate annual report for their CFCs to NFA pursuant to CFTC regulation 4.22(c); provided that such commodity pool operators consolidate the reporting for the CFCs under CFTC regulations 4.27(c) and 4.22(c) with those of the registered fund.

Last Updated: September 5, 2013