Family Office Relief from CPO Registration


As noted in an earlier Client bulletin, the Division of Swap Dealer and Intermediary Oversight (“Division”) of the Commodity Futures Trading Commission (“CFTC”) issued a no-action letter dated November 29, 2012 enabling family offices to claim an exemption from registration as a commodity pool operator.  In order to obtain such relief, the family office was required to file the claim electronically before December 31, 2012.
Additionally, any family office making such claim of exemption must, prior to March 31, 2013, file electronically with the CFTC a confirmation that (a) it is a “family office” within the meaning of the Security and Exchange Commission’s definition set forth in its Rule 202(a)(11)(G)-1 and (b) that it will notify the Division if it should cease to be a family office as defined by the SEC.
Consequently, family offices previously claiming the exemption provided in the no-action letter should ensure that the confirmation as to family office status be filed not later than March 31, 2013.
If you have any questions, please contact Scott McGinness or any other member of Miller & Martin's Investment Management Practice Group.

Written by:

Published In:


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Miller & Martin PLLC | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.