CPO and CTA Registration Delayed until December 31 if Firms File Notice
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight has issued no-action relief allowing registered funds and private fund sponsors until December 31, 2012 to register. However, those claiming relief must file a notice of eligibility with the CFTC. In a letter addressed to the MFA, IAA, AIMA, and the ICI, the CFTC acknowledges the operational and compliance hurdles including evaluating portfolios, getting appropriate Series 3 licenses, and implementing compliance procedures. The CFTC refused to extend relief beyond December 31, even though relief was requested until final swaps rules were adopted.