CFTC Grants Certain CPOs Relief From Registration And Reporting Requirements

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") granted exemptive relief to several commodity pool operators ("CPO") in response to requests for no-action relief related to certain CPO registration and reporting requirements under the Commodity Exchange Act.

No-action letters were issued in connection with criteria instituted by prior CFTC Letter 14-126, published in October 2014, which exempted certain persons from CPO registration requirements if they delegated CPO responsibilities to another person registered as a CPO. To qualify for relief under CFTC Letter 14-126, the "delegating CPO" and "designated CPO" were required to meet a series of nine criteria (see previous coverage). CFTC Letters 17-38, 17-39, 17-40, and 17-42 were issued in response to requests for relief for CPOs that met all criteria for exemption from registration except for criterion 6 ("If the Delegating CPO and the Designated CPO are each a non-natural person, then one