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Notice I-03-02

March 12, 2003

NFA/CFTC Eliminate Duplicate Filing Requirements for CPOs and CTAs

Working in collaboration with NFA, the CFTC recently announced changes to its regulations, naming NFA as the sole custodian of records filed by Commodity Pool Operators (CPOs) and Commodity Trading Advisors (CTAs). These changes mean that CPOs and CTAs no longer have to file duplicate copies of certain records with both the CFTC and NFA.

The following items need only be filed with NFA:

  • Pool financial statements for fiscal years ending December 31, 2002 or later

  • CTA Disclosure Documents

  • Disclosure Documents for private placement pools

  • Exemption Notices filed pursuant to CFTC Regulations 4.5, 4.7, 4.12(b), 4.13, 4.14(a)(8) and CFTC Advisory 18-96

  • Fund-of-Fund extension notices filed pursuant to CFTC Regulation 4.22(f)(2)

Additionally, if a CPO cannot distribute the report within 90 days after the end of the pool's fiscal year, the CPO may file an application to request an extension of time with NFA at 200 W. Madison, Suite 1500, Chicago, Illinois 60606.

These actions reflect NFA's commitment to making the regulatory process more efficient and to reducing Members' regulatory burdens without lessening customer protection.

CFTC Provides Annual Report Guidance to Commodity Pool Operators
The Commodity Futures Trading Commission's Division of Clearing and Intermediary Oversight (DCIO) has issued its annual guidance letter to registered CPOs. The letter is intended to assist CPOs, and their public accountants, in complying with the Commission's regulations on the preparation and filing of annual financial reports. In the letter, DCIO shares the results of its experience reviewing prior years' annual reports and provides guidance on industry specific financial reporting. You may access the letter on the Commission's website by clicking on the link below:

If you received this Notice electronically and prefer that someone else at your firm be the contact person for these types of communications, contact Dan Unti ( or 312-781-1325).

If you received this Notice through the U.S. mail, it is because we do not currently have your e-mail address on file. If you would like to receive future Notices electronically, contact Dan Unti.

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