The National Futures Association (NFA) has proposed new Compliance Rule 2-46, which would require registered commodity pool operators (CPOs), including those 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 report would be due within 45 days after the end of each calendar quarter and would be required to include (i) the identity of the pool’s administrator, carrying broker(s), trading manager(s) and custodians; (ii) a statement of changes in the pool’s net asset value over the quarter; (iii) monthly performance information for the quarter; and (iv) a schedule identifying any investments exceeding 10% of the pool’s net asset value as of the end of the quarter.
NFA filed the proposed rule with the CFTC on August 25 pursuant to Section 17(j) of the Commodity Exchange Act, which authorizes NFA to make a rule effective 10 days after receipt by the CFTC, unless the CFTC notifies NFA that it intends to review the rule, and NFA intends to make the new rule effective once necessary programming changes to NFA’s reporting systems are completed. The new rule would not apply to persons operating pursuant to an exemption from registration under CFTC Regulation 4.13.
Information regarding the new rule is available here.