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July 30, 2015
Relief from CTA-PR filing requirement for commodity trading advisors that DO NOT direct trading of commodity interest accounts
CFTC Staff Letter No. 15-47, dated July 21, 2015, exempts registered commodity trading advisors (CTA) that do not direct trading of commodity interest accounts from filing CFTC Form CTA-PR under CFTC Regulation 4.27. This relief is effective immediately and applies to the June 30, 2015 CTA-PR. This relief is also self-executing and CTAs are not required to file a notice of exemption to obtain this relief.
In keeping with the CFTC's relief, NFA will no longer require those CTAs to file NFA Form PR under NFA Compliance Rule 2-46. In order to ensure that NFA's records are accurate for determining CTA-PR filing requirements, any CTA that intends to take advantage of this relief must notify NFA by August 13, 2015, by responding "No" to the following question in the CTA Annual Questionnaire and then clicking on "Submit Filing":
Responding "No" will discontinue all future calls to complete a Form PR. CTAs qualifying for this relief that do not notify NFA by August 13, 2015, will continue to receive calls for the June 30, 2015 Form PR.
Any CTA taking advantage of this relief that subsequently begins directing trading of commodity interests accounts must immediately notify NFA of this change by updating its response in the CTA Annual Questionnaire.
Any questions regarding this process should be directed to Kaitlan Chi, Manager, Compliance (email@example.com or 312-781-1219) or Michael Mason, Manager, Compliance (firstname.lastname@example.org or 312-781-1447).