Regulations 4.22(c) and 4.22(h);
The Division of Clearing and Intermediary Oversight (DCIO) granted an exemption to a commodity pool operator (CPO) with respect to the annual reports required by Regulations 4.22(c) for two funds that have permanently ceased trading operations and have been placed into voluntary liquidation. The Funds are constituted under the laws of a foreign jurisdiction and registered under the foreign jurisdiction’s law as exempted companies. DCIO determined to accept the Funds’ December 31, 2005 certified annual reports as final annual reports, and that commencing January 1, 2006, the CPO will not be subject to the reporting requirements of Part 4 of the Commission regulations pending the final distribution of the Funds’ assets to the participants. In addition, as the Funds’ Liquidators have assumed legal responsibility for the Funds under the prevailing foreign jurisdiction’s law, including the requirement to provide the Funds’ participants with periodic reporting on the status of the liquidation and the Funds’ assets, the CPO is relieved from the requirement that it sign the oath or affirmation that is required to be included with the Funds’ annual reports filed with NFA. DCIO also granted an extension of time to file the Funds’ annual reports.