Year-End CFTC Reporting Requirements For Fund Advisers

The National Futures Association (NFA) reminded fund advisers claiming an exemption from registering as a commodity pool operator (CPO) that they must confirm by March 3, 2014 that will continue to rely on the exemption.

The December 5, 2013 notice reminded advisers that if they fail to affirm an active Rule 4.5 exemption from CPO registration within 60 days of year end, the exemption will be withdrawn.  The NFA cautioned registered CPOs that withdrawal of the exemption would result in the firm being subject to Part 4 of the CFTC regulations regardless of whether the firm otherwise remains eligible for the exemption. "For non-registrants, the withdrawal of the exemption may subject you to enforcement action by the CFTC."