On Oct. 15, 2014, the staff of the Commodity Futures Trading Commission issued a letter granting no-action relief to persons seeking to delegate their commodity pool operator authority to others.
The October letter expands upon the relief granted in an earlier (May 2014) letter in two respects:
- Unlike the May letter, the October guidance provides self-executing relief (i.e., no application need be made, and no notice is required to be filed with the CFTC); and
- The October letter also addresses some technical, but often problematic, impediments to accessing the relief granted through the May letter.
Click here to read more about the CFTC relief.