On September 6, the National Futures Association (NFA) notified its members that it will modify its electronic exemption system to establish a pre-filing option for pools that wish to claim relief under Commodity Futures Trading Commission Regulations 4.7 or 4.12 or CFTC Advisory 18-96 after the Regulation 4.13(a)(4) exemption is revoked. In February 2012, the CFTC rescinded an exemption from CPO registration for the operators of certain qualifying pools under CFTC Regulation 4.13(a)(4), effective December 31, 2012. Unless operators of these pools qualify for an exemption under CFTC Regulation 4.13(a)(3), they must register as a CPO. A CPO that does not qualify for the 4.13(a)(3) exemption may be able to obtain relief from certain regulatory requirements pursuant to CFTC Regulation 4.7, 4.12 or CFTC Advisory 18-96. NFA is modifying its electronic exemption system to allow affected persons to pre-file for the applicable exemption with an effective date of January 1, 2013.
The notice to members is available here.