Family Offices Exempt From Registration as Commodity Trading Advisors
Overview
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. As a result, a qualifying family office will be exempt from regulation as an investment adviser by the Securities and Exchange Commission and any relevant states, and as a Commodities Pool Operator (CPO) or a Commodities Trading Advisor (CTA).