Commodity Pool

The CFTC’s Further No-Action Relief for Operators of Securitization Vehicles that May Constitute Commodity Pools

by James Schwartz | Morrison & Foerster LLP on 4/11/2013

In a letter dated March 29, 2013 (the “March 29 Letter”), the Division of Swap Dealer and Intermediary Oversight (the “Division”) of the Commodity Futures Trading Commission (the “CFTC”), extended by three months, but subject...more

CFTC Fines $3.5 Million In FX Fraud

by Elan Mendel | Shipkevich PLLC on 3/15/2013

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court order for more than $3.5 million in restitution and civil monetary penalties against Nicholas Trimble and his two companies, Capstone FX...more

NFA Proposes Amendment Permitting Certain Loans by Commodity Pools to Related Entities

by Blake Brockway, Christian Hennion, Kenneth M. Rosenzweig | Katten Muchin Rosenman LLP on 3/13/2013

On March 4, the National Futures Association (NFA) issued a proposed rule change and interpretive notice that would allow commodity pools to provide certain loans to related commodity pool operators (CPOs) and other...more

Corporate and Financial Weekly Digest - March 8, 2013

by Katten Muchin Rosenman LLP on 3/11/2013

In this issue: - SEC Seeks Information to Assess Standards of Conduct and Other Obligations of Broker-Dealers and Investment Advisers - Frequently Asked Questions About Legal Entity Identifiers - CFTC...more

Reminder: Upcoming Deadlines for Clearing Requirements for Certain Swaps

by Jeffrey D. Collins, Meredith Haviland, Diana W. Lo | Foley Hoag LLP on 3/5/2013

Investment managers who use swaps on behalf of their clients (including funds) are reminded that the phase-in for mandatory clearing of certain types of swaps has begun. Investment managers should be analyzing (a) the types...more

401(k) Plans—Potential Commodity Pool Issues in the United States

by Susan M. Camillo, Andrew L. Oringer, M. Holland West | Dechert LLP on 2/28/2013

Under the rules of the Commodity Futures Trading Commission (“CFTC”), certain collective investment vehicles and other entities that, directly or indirectly, invest in “commodity interests” may be “commodity pools” whose...more

Family Office Relief from CPO Registration

by W. Scott McGinness Jr. | Miller & Martin PLLC on 2/26/2013

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...more

CFTC Escalates Enforcement Actions Against Commodity Pool Fraud

by Felix Shipkevich | Shipkevich PLLC on 2/13/2013

The U.S. Commodity Futures Trading Commission (CFTC) announced yesterday that Judge G. Ross Anderson of the U.S. District Court for the District of South Carolina entered an emergency Order freezing and preserving the...more

Customer Segregation: Keep It Separate [Video]

by MarketsReformWiki on 1/29/2013

Watch the Restoring Customer Confidence video series: http://jlne.ws/TJeVtG About this solution: There has been much talk about protecting customer funds but keeping them in segregated accounts outside of the brokerage...more

Skadden's 2013 Insights: Financial Regulation

by Skadden, Arps, Slate, Meagher & Flom LLP on 1/21/2013

In the U.S., Europe and Asia, 2012 saw measured progress in the implementation of recent regulatory reforms, the Basel capital rules, the deleveraging of the financial services firms and deliberations about the role of...more

Legal Alert: The CPO and CTA Regulatory Regimes: What Operators of and Advisers to Commodity Pools Should Expect in 2013

by Cheryl I. Aaron, James M. Cain, Doyle Campbell, Kalaundra Y. Carreathers, Warren N. Davis, Jacob Dweck, Daphne G. Frydman, Meghan R. Gruebner, Meltem F. Kodaman, Catherine M. Krupka, more +David T. McIndoe, Mark D. Sherrill, R. Michael Sweeney, Jr. | Sutherland Asbill & Brennan LLP on 1/18/2013

There were a number of significant changes to the regulatory regime for commodity pool operators (CPOs) and commodity trading advisors (CTAs) in 2012. As a result of these changes, various types of collective investment...more

Year-End Developments And Compliance Checklists

by Cole Beaubouef, Richard Bernstein, George Danenhauer, Marie DeFalco, David Goret, Peter Greene, Elaine Hughes, Allen Levithan, Matthew Magidson, Robert Minion, Scott H. Moss | Lowenstein Sandler LLP on 1/17/2013

Lowenstein Sandler’s Investment Management Group is pleased to provide you with (i) a summary of recent legislative and regulatory developments that impact the investment management community; and (ii) checklists of year-end...more

Further Exclusions From Commodity Pool Regulation for Certain Securitization Vehicles; No-Action Relief for Certain Securitization...

by White & Case LLP on 1/4/2013

I. Introduction - A. Issues Covered in the No-Action Letter - On December 7, 2012, the US Commodity Futures Trading Commission’s (“CFTC”) Division of Swap Dealer and Intermediary Oversight (the “Division”) issued a...more

New FINRA Rule 5123 Regarding Private Placements of Securities Effective December 3, 2012

by Julia Gaffin, Steve Ganis | Mintz Levin - Corporate & Securities on 1/4/2013

In an effort to enhance oversight and investor protection over private placement activity of firms on behalf of other issuers, new Financial Industry Regulatory Authority, Inc. (FINRA) Rule 5123 became effective on December...more

CFTC Classifies Certain Securitization Vehicles as Not Being Commodity Pools

by Cary J. Meer, Marc Mehrespand, Anthony R.G. Nolan, Lawrence B. Patent | K&L Gates LLP on 12/24/2012

Recent changes to the commodity pool regulations under the Commodity Exchange Act (the “CEA”) may subject certain securitization transactions and their managers to regulation by the Commodity Futures Trading Commission (the...more

Structured Thoughts -- Volume 3, Issue 14 -- December 18, 2012

by Bradley Berman, Peter J. Green, Lloyd S. Harmetz, Jeremy C. Jennings-Mares, Lewis Gavin Lee, Anna T. Pinedo | Morrison & Foerster LLP on 12/19/2012

In This Issue: Dividend Adjustments on the Way; Federal Court Decision Supports Use of “Big-Boy Letters”; FINRA Updates Its Suitability Questions and Answers; FINRA Rule 5123 Excludes Some, But Not All, Options;...more

CFTC No-Action Relief for Securitizations from Commodity Pool Operator Registration

by Orrick - Structured Finance Group on 12/17/2012

On December 7, the CFTC provided guidance to securitization vehicles on whether they may be excluded from the definition of commodity pool....more

CFTC's Division of Swap Dealer and Intermediary Oversight Issues a No-Action Letter for Business Development Companies with...

by White & Case LLP on 12/15/2012

On December 4, 2012, the Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight ("the Division") issued a no action letter to operators of business development companies ("BDCs"). The...more

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The CFTC’s Further No-Action Relief for Operators of Securitization Vehicles that May Constitute Commodity Pools

CFTC Fines $3.5 Million In FX Fraud

NFA Proposes Amendment Permitting Certain Loans by Commodity Pools to Related Entities

Corporate and Financial Weekly Digest - March 8, 2013

Reminder: Upcoming Deadlines for Clearing Requirements for Certain Swaps

401(k) Plans—Potential Commodity Pool Issues in the United States

Family Office Relief from CPO Registration

CFTC Escalates Enforcement Actions Against Commodity Pool Fraud

Customer Segregation: Keep It Separate [Video]

Skadden's 2013 Insights: Financial Regulation

Legal Alert: The CPO and CTA Regulatory Regimes: What Operators of and Advisers to Commodity Pools Should Expect in 2013

Year-End Developments And Compliance Checklists

Further Exclusions From Commodity Pool Regulation for Certain Securitization Vehicles; No-Action Relief for Certain Securitization...

New FINRA Rule 5123 Regarding Private Placements of Securities Effective December 3, 2012

CFTC Classifies Certain Securitization Vehicles as Not Being Commodity Pools

Structured Thoughts -- Volume 3, Issue 14 -- December 18, 2012

CFTC No-Action Relief for Securitizations from Commodity Pool Operator Registration

CFTC's Division of Swap Dealer and Intermediary Oversight Issues a No-Action Letter for Business Development Companies with...

NFA Issues Guidance on Reaffirmation of CPO/CTA Exemptions

CFTC Charges Arista LLC With $9.5 Million Commodity Pool Fraud

"CFTC Staff Provides Mortgage REITs With No-Action Relief From Commodity Pool Operator Registration"

CFTC Issues Broad Securitization Industry Relief on Commodity Pool Regulation

NFA Issues Guidance on Annual Affirmation Requirement for CPO and CTA Exemptions

CFTC Grants No-Action Relief to Certain Family Offices and Funds-of-Funds from Registration as CPOs

"CFTC Staff Provides Funds-of-Funds With Temporary No-Action Relief From Commodity Pool Operator Registration"

Customer Segregation: Keep It Separate [Video]

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