On October 15, 2014, the CFTC’s Division of Swap Dealer and Intermediary Oversight announced the provision of self-executing registration no-action relief for certain commodity pool operators (“CPOs”) who delegate certain activities to a registered CPO and meet the conditions specified in the CFTC no-action letter.

In the no-action letter, the CFTC also stated that it will no longer consider requests for no-action relief pursuant to the approach described in previous no-action Letter 14-69, including any requests submitted to the CFTC that were still pending. For more details, you may like to read our client note at:

http://www.shearman.com/~/media/Files/NewsInsights/Publications/2014/10/CFTC-Staff-Issues-Revised-NoAction-Relief-from-CPO-Registration-for-Certain-Delegating-CPOs-IF-101714.pdf.

The full text of the CFTC no-action letter is available at:

http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/14-126.pdf.