What is a Pqr filing?
Form CPO-PQR is a filing designed to collect data from registered CPOs2 about each of their operated commodity pools. CFTC Regulation 4.27 requires that CPOs file Form CPO-PQR with the National Futures Association (NFA).
What is an exempt commodity pool operator?
The “investment club” exemption requires that: (i) the manager not receive any compensation, directly or indirectly, for operating the pool except for reimbursement for the pool’s ordinary operating expenses; (ii) the manager operate only one commodity pool at a time; (iii) the manager not be otherwise required to …
Does a commodity pool operator have to register with CFTC?
Commodity pool operators are regulated by the CFTC. They must register with the CFTC as principals or as associated persons. A CPO may also be asked to pass the FINRA Series 31 exam.
Can commodity pool operator accept funds?
In most instances, CPOs cannot accept your money until they provide you with disclosure documents that contain information about the essential players in the pool: The pool operator. The pool’s principals. Any outside advisors who provide trading advice or make trading decisions.
Can a CTA accept funds?
CTAs are responsible for advising managed accounts and pooled investment vehicles, such as commodity pools. CPOs are the organizations managing commodity pools. • A CPO solicits or accepts funds, securities or property from prospective investors in the commodity pool.
Who is exempt from NFA?
Persons excluded from 15 participants: The pool’s operator, CTA, principals and any of their children, siblings or parents. The spouse of any of these persons. Any relative of pool operator, CTA and principals including a relative of a spouse who has the same principal residence.
Do I need a license to trade commodities?
Every commodity broker must be licensed and registered with the National Futures Association (NFA) as an “associated person.” To get that license, the applicant must pass a test called the Series 3 examination. The outline form for the test can be found on the NFA website.