Home > Compliance > Commodity Pool Operators (CPOs) > Exemptions Available to CPOs

Exemptions Available to CPOs

A CPO may request relief for its pools pursuant to certain CFTC Regulations. A CPO must claim relief electronically through NFA's Exemption System. Below are regulations that may offer such relief: 

  • Pursuant to CFTC Regulation §4.7, commodity pools whose participants are limited to qualified eligible persons (QEPs) may claim relief from providing such participants with a Disclosure Document and other CFTC requirements. More...
  • Pursuant to CFTC Regulation §4.7(b)(4), a CPO of a commodity pool may claim relief from maintaining books and records at the main business office. More...
  • Pursuant to CFTC Regulation §4.12(b), a CPO may claim relief from specific requirements if the pool routinely invests in securities and less than 10% of the pool's assets invest in futures. More...
  • Pursuant to CFTC Regulation §4.12(c)(2), a CPO of a commodity pool whose units of participation are listed and traded on a national securities exchange may claim relief from certain disclosure, reporting, and recordkeeping requirements. More...
  • Pursuant to CFTC Regulations §4.12(c)(3), a CPO of a Registered Investment Company may claim relief to use substituted compliance in connection with certain requirements. More...
  • Pursuant to CFTC Regulations §4.13(a)(3), commodity pools whose pool trades minimal amount of futures may claim relief from preparing a Disclosure Document and from other CFTC requirements. More ...
  • Pursuant to CFTC Regulation §4.13(a)(5), certain independent directors or trustees of actively-managed commodity pools operated by a CPO that is eligible to claim relief under CFTC Regulation §4.12(c) may claim relief from CPO registration. More...
  • Pursuant to CFTC Regulation §4.23(c), a CPO and its pools may claim relief from maintaining books and records at the main business office. More...
  • Pursuant to CFTC Advisory No. 18.96, a CPO who operates offshore commodity pools may be eligible for relief from preparing a Disclosure Document and from other CFTC requirements. More...  *

*Exemptions pursuant to CFTC Advisory No. 18.96 must be filed with NFA in hardcopy. Please note that NFA's address listed in the CFTC advisory is incorrect. The correct address is: National Futures Association (Attn: Director of Compliance, Compliance Department), 300 South Riverside Plaza, Suite 1800, Chicago, Illinois, 60606.

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