• CFTC Announces New Approach for Delegation by Commodity Pool Operators
  • June 11, 2014
  • Law Firm: Shartsis Friese LLP - San Francisco Office
  • On May 12, 2014, the U.S. Commodity Futures Trading Commission (“CFTC”) announced a standardized, streamlined approach for no-action requests relating to delegation of commodity pool operator (“CPO”) activities by an unregistered CPO to a registered CPO. Delegation typically arises where (1) the general partner of a hedge fund organized as a partnership appoints a separate investment adviser and delegates the investment adviser to perform CPO responsibilities, or (2) the board of directors of a hedge fund organized as a corporation delegates CPO responsibilities to the fund’s investment adviser.