Release Number 6663-13

August 13, 2013

CFTC Adopts Harmonization Rules for Registered Investment Companies

Washington, DC – The Commodity Futures Trading Commission (CFTC) today issued a final rule with respect to certain compliance obligations for commodity pool operators (CPOs) of investment companies registered under the Investment Company Act of 1940 that are required to register due to the recent changes to Commission Regulation 4.5.

For entities that are registered with both the CFTC and Securities and Exchange Commission (SEC), the CFTC will accept the SEC’s disclosure, reporting, and recordkeeping regime as substituted compliance for substantially all of Part 4 of the CFTC’s regulations, so long as they comply with comparable requirements under the SEC’s statutory and regulatory compliance regime. Thus, the final rule allows dually registered entities to meet certain CFTC regulatory requirements for CPOs by complying with SEC rules to which they are already subject.

Additionally, the rule also amends certain provisions of Part 4 of the Commission’s regulations that are applicable to all CPOs. Notably, all CPOs will be permitted to use third-party service providers to maintain their books and records, and the signed acknowledgement requirement is being rescinded.

Last Updated: August 13, 2013