The National Futures Association (NFA) has set an effective date of March 31 for new Compliance Rule 2-46, which requires registered commodity pool operators (CPOs), including CPOs that have claimed an exemption pursuant to Commodity Futures Trading Commission Rule 4.7, to file a quarterly report with NFA containing certain specified information. The reports are due within 45 days after the end of each calendar quarter and must include (1) the identity of the pool’s administrator, carrying broker(s), trading manager(s) and custodians, (2) a statement of changes in the pool’s net asset value over the quarter, (3) monthly performance information for the quarter, and (4) a schedule identifying any investments exceeding 10% of the pool’s net asset value as of the end of the quarter. The new reporting requirements do not apply to persons operating pursuant to an exemption from registration under CFTC Rule 4.13.
The first quarterly reports under the new rule will be due by May 17, 2010, and must be filed electronically through NFA’s EasyFile system. The NFA Notice to Members regarding the new rule is available here.