The U.S. Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (Division) issued a no-action letter providing family offices relief from commodity trading advisor registration, in connection with advisory services they provide to family clients.

In order to receive relief, a family office must submit a claim to the Division and remain in compliance with the exclusion for family offices from the definition of investment adviser, adopted by the Securities and Exchange Commission in 2011.