Exempt CPOs and CTAs Must Affirm with NFA by End of February | Practical Law

Exempt CPOs and CTAs Must Affirm with NFA by End of February | Practical Law

The National Futures Association (NFA) published a reminder that commodity pool operators (CPOs) and commodity trading advisors (CTAs) claiming an exemption or exception from registration with the CFTC must affirm their status with the NFA by February 29, 2016.

Exempt CPOs and CTAs Must Affirm with NFA by End of February

Practical Law Legal Update w-001-4344 (Approx. 3 pages)

Exempt CPOs and CTAs Must Affirm with NFA by End of February

by Practical Law Finance
Published on 09 Feb 2016 • USA (National/Federal)
The National Futures Association (NFA) published a reminder that commodity pool operators (CPOs) and commodity trading advisors (CTAs) claiming an exemption or exception from registration with the CFTC must affirm their status with the NFA by February 29, 2016.
The National Futures Association (NFA) published a reminder that commodity pool operators (CPOs) and commodity trading advisors (CTAs) that are claiming either of the following exemptions from registration with the CFTC must affirm their status with the NFA by February 29, 2016:
  • CPO registration under CFTC Regulations 4.5, 4.13(a) 4.13(a)(2), 4.13(a)(3), and 4.13(a)(5).
  • CTA registration under CFTC Regulation 4.14(a)(8).
Under CFTC final rules issued in February 2012, any person claiming an exemption or exclusion from CPO or CTA registration is required to annually affirm the applicable notice of exemption or exclusion within 60 days of the calendar year end (see Legal Update, Final Rules Amending CPO, CTA Registration and Compliance Obligations Issued by CFTC).
The NFA sends out reminders to affirm during the affirmation period. This affirmation can be completed on the NFA's website under the Exemption System. The NFA has also provided guidance on the annual affirmation requirement for entities currently operating under an exemption or exclusion from CPO or CTA registration.