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CPO and CTA Registration Delayed until December 31 if Firms File Notice

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. 

OUR TAKE: Make sure that you file the required to notice to take advantage of the relief until December 31. Otherwise, you must register immediately. 
http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/12-03.pdf
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