NFA Updates CPO Registration Exemption Requirements

NFA updated its CPO registration exemption requirements to conform to recent amendments to CFTC Rule 4.13 ("Exemption from Registration as a Commodity Pool Operator") on disclosure of prior statutory disqualifications.

As previously covered, the amendments require any person seeking exemption from registration as a CPO under the Rule to represent that neither it nor its principals are subject to any of the statutory disqualifications under CEA Section 8a(2) ("Registration of Commodity Dealers and Associated Persons; Regulation of Registered Entities").

NFA stated that, beginning on November 19, 2020, any person seeking a new CPO registration exemption must make a statutory disqualification attestation through NFA's electronic Exemptions System. Persons with active exemptions under CFTC Rule 4.13 are not required to provide the attestation until they complete the 2021 annual exemption affirmation process.