Webinar: "CFTC Rescinds or Revises Registration Exemptions: Implications for Hedge Funds and Mutual Funds"

February 16, 2012
Leigh R. Fraser ,
Deborah A. Monson


The Commodity Futures Trading Commission recently announced final rules rescinding or revising registration exemptions for hedge funds, and revising the exclusion from registration for registered investment companies. As a result, hedge fund sponsors and advisers will need to determine whether an alternative exemption is available or whether registration is required. Registered investment companies will have to examine the structure and the amount of trading in futures, options and swaps, as well as their marketing to determine whether their advisers will need to register.

Hedge Funds

Hedge funds typically rely on exemptions for funds with sophisticated investors or for funds that trade only a de minimis level of futures and options. With the first exemption rescinded and the second exemption expanded to take into account swaps trading, this program will help funds and trading advisers re-evaluate their options.