The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") granted exemptive relief to the Commodity Pool Operator ("CPO") of two pools from the quarterly report filing requirement in CFTC Rule 4.7(b)(2).
Under CFTC Rule 4.7(b)(2), CPOs generally are required to distribute quarterly reports within 30 days of the end of a particular quarter. According to the relief letter, the CPO informed DSIO that (i) it invests all of its assets in other collective investment vehicles, and (ii) it frequently does not receive the requisite account statements from these investment vehicles with sufficient time to process the data needed to prepare and distribute reports by the quarterly reporting deadline.
This relief allows the CPO to instead provide monthly reports within 45 days of the end of each month. The reports must contain all of the same information required by quarterly reports under Rule 4.7(b)(2), and the CPO must inform all current and prospective pool participants that the statements will be provided within 45 days of the end of each month.
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