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ARTICLE · 19 NOVEMBER 2018

CFTC Proposes To Simplify, Modernize Commodity Pool Operator And Commodity Trading Advisor Regulations

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On October 18, 2018, the Commodity Futures Trading Commission (CFTC) published a proposal in the Federal Register (Proposed Rule)1 to amend several key compliance and registration regulations governing CPOs and CTAs.

United KingdomFinance and Banking
Michael K. Hoffman
Michael K. Hoffman
Maureen A. Donley
Maureen A. Donley
Jonathan Marcus
Jonathan Marcus
Shekida A. Smith
Shekida A. Smith

On October 18, 2018, the Commodity Futures Trading Commission (CFTC) published a proposal in the Federal Register (Proposed Rule)1 to amend several key compliance and registration regulations governing commodity pool operators (CPOs) and commodity trading advisors (CTAs). The overarching goal of the CFTC's proposal is to simplify and modernize those regulations by codifying (and, in certain respects, expanding upon) relief in long-standing CFTC staff advisories and no-action letters.2

Registration Exemption for CPOs Operating in Multiple Jurisdictions

The CFTC proposes to amend CFTC Regulation 4.13 (which provides exemptions from CPO registration) so that a CPO would not have to register as a CPO with respect to any of its offshore pools for which the CPO solicits and/or accepts funds only from persons located outside the U.S. This registration exemption would be available on a pool-by-pool basis, meaning that the CPO could claim the exemption with respect to its

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