The CFTC published a final rule on compliance relief from certain recordkeeping and reporting requirements for specific types of commodity pool operators (CPOs). Similar exemptions were previously made on a case-by-case basis by the CFTC. The new rule exempts CPOs that are listed and traded on national securities exchanges (i.e. Commodity Exchange Traded Funds or ETFs) from Disclosure Document delivery and acknowledgement, and Account Statement delivery. They are also not required to keep books and records at their main business address. Furthermore, independent directors or trustees of Commodity ETFs are exempt from registration as long as they are only serving as a part of the audit committee required for actively-managed public companies under Sarbanes-Oxley (and therefore under SEC regulation). The CFTC has also issued a notice authorizing the NFA to process these exemptions. To obtain relief, Commodity ETFs must file specific notices with the NFA.

To read the proposed rule, click here. To read the authorization, click here.