On Dec. 2, NFA issued guidance regarding annual affirmation process.
NFA issued Notice I-24-19, entitled Guidance on the annual affirmation requirement for entities currently operating under an exemption from CPO or CTA registration.
The CFTC requires any person that claims an exemption from CPO registration under CFTC Regulation 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), or 4.13(a)(5) (17 CFR 4.13).
Also, an exclusion from CPO registration under CFTC Regulation 4.5 (17 CFR 4.5).
As well as, exemption from CTA registration per 4.14(a)(8) (17 CFR 4.14), to annually affirm applicable notice of exemption within sixty (60) days of the calendar year end.
Withdrawal of the exemption for registered CPOs/CTAs will result in being subject to Part 4 requirements regardless of if they otherwise remain eligible for the exemption.
For non-registrants, the withdrawal of exemption may subject person/entity to CFTC enforcement action, if continuing to operate without registration or exemption.
Affirmation Due Date
Failure to affirm by Mar. 1, 2025, will result in withdrawn exemption by Mar. 3, 2025.
Regulators
NFA
Entity Types
CPO; CTA
Reference
Nt I-24-19, 12/2/2024; Citation: *17 CFR* 4.5, 4.13, 4.14;
