On September 12, the Commodity Futures Trading Commission (CFTC or Commission) published a final rule, adopting amendments to CFTC Rule 4.7, which provides exemptive relief from certain compliance obligations to registered...more
Our Investment Funds Group examines how the Commodity Futures Trading Commission (CFTC) has amended Regulation 4.7 to increase investor suitability standards and provide additional flexibility for funds-of-funds reporting....more
Pursuant to new National Futures Association (NFA) Compliance Rule 2-52, Interpretive Notice 9082 and amendments to NFA Bylaw 301, for NFA membership filings, membership renewals and material updates made after October 15,...more
Investment advisers registered with the U.S. Securities and Exchange Commission (“SEC”) or with a state as well as commodity pool operators (“CPOs”) and commodity trading advisers (“CTAs”) registered with the U.S. Commodity...more
The Commodity Futures Trading Commission (CFTC) has issued a request for comment (RFC) seeking public input on the use of artificial intelligence (AI) in CFTC-regulated markets. The RFC – distributed jointly by the CFTC's...more
On February 8, 2024, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) (together, the Commissions) jointly adopted additional amendments to Form PF, the confidential form by...more
On September 29, 2023, the CFTC approved a proposal to amend certain provisions of its regulations relating to commodity pools, specifically Rule 4.7. The proposal would be the first major change to Rule 4.7 in over 30...more
The Commodity Futures Trading Commission (Commission or CFTC) voted to announce proposed rule changes on October 2, 2023, that would significantly change the disclosure requirements applicable to registered commodity pool...more
The US Commodities Futures Trading Commission (CFTC) recently proposed new rules that, among other actions, update the definition of a “qualified eligible person,” add minimum disclosure requirements for certain pools and...more
The Commodity Futures Trading Commission (CFTC or Commission) recently proposed amendments to CFTC Regulation 4.7 (the Proposed Rule) that would impact long-standing exemptions from certain compliance requirements for...more
I. Starting a Broker-Dealer- Becoming an owner of a broker-dealer (BD) is a time-consuming and expensive endeavor. Although the United States Securities and Exchange Commission (SEC) requires BD registration pursuant to the...more
The International Association of Privacy Professionals held its annual Global Privacy Summit on April 4-5 in Washington, D.C. Here are some things we learned. 1. Generative Artificial Intelligence (“AI”) is Ubiquitous in the...more
INTRODUCTION - Registered investment advisers to private funds clients are required to make filings with the Securities and Exchange Commission (SEC) each year and deliver certain information to their clients. In...more
A recently published government consultation (which closes on 19 July 2022) proposes fundamental changes in how CPO compensation is assessed and will have significant implications for landowners, acquiring authorities and...more
Summaries of recent legislative and regulatory developments with respect to: •SEC’s 2022 Examination Priorities • Proposed Amendments to Form PF Requirements- •Proposed New Rules Applicable to Private Fund Advisers and...more
INVESTMENT ADVISERS - Annual Compliance Reviews - All investment advisers registered with the Securities and Exchange Commission (“SEC”) or at the state level, are required to review their compliance policies and...more
The National Futures Association has adopted two new operational requirements that will affect (among others) registered commodity pool operators and commodity trading advisors. Under new NFA Compliance Rule 2-50, as of...more
The Commodity Futures Trading Commission, on December 7, 2020, published in the Federal Register significant amendments to CFTC Regulation 3.10(c) (Amendments), making the regulation a more broadly available registration...more
On October 15, 2020, the CFTC unanimously adopted amendments to Rule 3.10(c) that will be of assistance to foreign-located persons acting as commodity pool operators on behalf of offshore commodity pools. Rule 3.10(c) will...more
Commodity Futures Trading Commission (CFTC) Regulation 3.10(c)(3) currently provides an exemption from registration for non-U.S. commodity pool operators (CPOs) and commodity trading advisors (CTAs), if they solely operate...more
CFTC Also Proposes Amendments to Help Non-U.S. CPOs and Extends its Uncleared Swap Margin Phase-In Schedule - During the period from late May 2020 through early June 2020, the Commodity Futures Trading Commission held...more
The Commodity Futures Trading Commission voted on June 4 to adopt rules prohibiting exempt commodity pool operators and their principals from operating commodity pools if they are subject to any of the statutory...more
- A CPO will be prohibited from claiming an exemption from registration under CFTC Regulation 4.13 if it or any of its principals has in their backgrounds a statutory disqualification under the Commodity Exchange Act. - A...more
On June 4, 2020, the Commodity Futures Trading Commission (CFTC) unanimously approved the adoption of a final rule (Final Rule) prohibiting a commodity pool operator (CPO) that has, or whose principals have, in its background...more
On May 28, 2020, the Commodity Futures Trading Commission (CFTC or Commission) unanimously approved an interim final rule extending the Phase 5 compliance date for the Commission’s initial margin rules (Interim Final Rule)...more