The CFTC issued final rules adopting CFTC Regulation 4.27 [Additional reporting by advisors of certain large commodity pools] which requires that all CTAs file a Form PR annual report with NFA within 45 days of the calendar year end. The Form PR requires each CTA to report on an annual basis general information about the CTA, its trading programs, the pool assets directed by the CTA and the identity of the CPOs that operate those pools. NFA has provided the Form PR template. View Notice in full here (links externally to NFA website). See generally: Lofchie's Guide to CPO/CTA Regulation

The SEC Division of Investment Management provided no-action relief to Pacholder High Yield Fund, Inc. ("Fund") for the following reasons. Under Rule 14a-8(f)(1), a company may exclude a shareholder proposal if the proponent is not the record owner and fails to provide appropriate proof of eligibility in accordance with the eligibility requirements of Rule 14a-8(b)(2), provided that the company timely notifies the proponent of the deficiency and the proponent fails to correct the deficiency within the required time period. According to the letter, the proponent did not provide the required

The SEC announced the opening of registration for its National Compliance Outreach Program for Broker-Dealers that will take place in Washington D.C. on April 9. The event is sponsored by the SEC's Office of Compliance Inspections and Examinations in coordination with the SEC's Division of Trading and Markets and FINRA. The goal of the program is to provide a forum for open discussions about effective compliance practices for broker-dealers, with a focus on compliance, risk, and audit officers of large broker-dealers with multiple and complex business lines. Click here to view notice in full

The SEC Division of Trading and Markets issued a no-action letter regarding the classification of certain persons as owners of broker-dealers for purposes of Exchange Act Rules 15c3-1 and 15c3-3. Owners of a broker-dealer are not “customers” for purposes of the customer protection provisions of Exchange Act Rule 15c3-3. The letter sets forth facts and conditions sufficient to allow a person to be classified as an owner for purposes of Rule 15c3-3 and for that person’s capital contribution to be treated as a capital contribution under Exchange Act Rule 15c3-1 (the net capital rule). Lofchie

The CFTC announced that staff will hold a public roundtable on January 31, 2013, from 9:30 a.m. to 3:15 p.m., to discuss the #8220;futurization#8221; of the swaps market. The roundtable will consist of four panels, discussing 1) general industry views and concerns regarding the conversion of swaps to futures in each asset class; 2) clearing and different margin requirements for swaps and futures; 3) transaction-related matters, including appropriate block rules for swaps and futures; and 4) the effect of the conversion of swaps to futures on end-users. Agenda for the Public Roundtable