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ARTICLE · 30 SEPTEMBER 2013

CFTC Grants CPOs No-Action Relief From Certain Reporting Obligations

Drinker Biddle & Reath LLP
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Earlier this month, the U.S. Commodity Futures Trading Commission granted no-action relief to commodity pool operators of registered funds with respect to certain reporting requirements set forth in CFTC Regulations 4.27(c) and 4.22(c) in connection with wholly-owned subsidiaries known as controlled foreign corporations or CFCs.

United StatesFinance and Banking
Drinker Biddle'S Investment Management Group
Drinker Biddle'S Investment Management Group

Summary. Earlier this month, the U.S. Commodity Futures Trading Commission (the CFTC) granted no-action relief to commodity pool operators (CPOs) of registered funds with respect to certain reporting requirements set forth in CFTC Regulations 4.27(c) and 4.22(c) in connection with wholly-owned subsidiaries known as controlled foreign corporations or CFCs. CPOs seeking relief from these reporting requirements may utilize the attached form to claim such relief from the CFTC.

CPOs that should claim this no-action relief. CPOs of registered funds (i.e., investment companies registered under the Investment Company Act of 1940) that trade in commodity interests through CFCs that are consolidated with such registered funds for financial reporting purposes should generally claim this relief.

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