Hedge funds partner Deborah Monson (Chicago) is quoted in a May 29 Compliance Intelligence article titled “CPO Delegation: CFTC Guide Welcomed, Creates Work,” discussing the CFTC’s recent guidance requiring that CPOs obtain no-action relief if they delegate the CPO functions for a particular fund.
Highlighting what firms should do as a result of this guidance, Ms. Monson notes that “[f]irms definitely need to pull out their existing delegation agreements and add amendments to bring them in line with the new guidance,” if possible, to qualify for a streamlined no-action relief process.
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