NFA Guidance on Annual Affirmation of CPO/CTA Exemption
The NFA recently issued a notice entitled “Guidance on the Annual Affirmation Requirement for those Entities that are currently operating under an exemption or exclusion from CPO or CTA registration.” As of February 2012, each person claiming an exemption or exclusion from CPO registration under CFTC Regulation 4.5, 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), 4.13(a)(5) or an exemption from CTA registration under 4.14(a)(8) is required to annually affirm the exemption or exclusion upon which it relies. The annual notice affirming the exemption or exclusion is due within 60 days of the calendar year end. The first notice is due for the calendar year ending December 31, 2012. The required affirmation must be filed electronically on the NFA’s Exemption System. A full version of the NFA notice along with FAQs regarding the annual affirmation requirement is available here.