Amended CFTC Rules Provide Clarity For Asset Managers

By Deborah Monson and Jeremy Liabo (February 6, 2020, 5:41 PM EST) -- With the new year comes new responsibilities for certain asset managers, including those who are exempt from registration with the U.S. Commodity Futures Trading Commission as commodity pool operators or commodity trading advisers — or CPOs and CTAs — as well as for those who are so registered.

Effective Jan. 9, the CFTC amended Part 4 of its regulations. Accordingly, asset managers who advise family offices, operators of business development companies, or BDCs, and certain operators of registered investment companies should reevaluate their CPO registration exemptions and, with respect to family offices, CTA registration exemptions.

All asset managers should review the...

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