National Futures Association (NFA) has notified its member commodity trading advisors (CTAs) that do not direct trading of commodity interest accounts that they are no longer required to file NFA Form PR under NFA Compliance Rule 2-46. This relief, which is consistent with recent no-action relief issued by staff of the Commodity Futures Trading Commission in CFTC Letter No. 15-47, is effective immediately and applies to the June 30 Form PR filing.
Any qualifying CTA that intends to rely upon this relief must update its CTA Annual Questionnaire by August 13 to indicate that the firm does not direct any trading of commodity interest accounts. Firms that do not do so will continue to receive calls for the June 30 Form PR filing (and future Form PR filings).
More information is available here.
