CFTC proposes $800,000 fund exemption

• The CFTC proposed changes that could reduce duplicate registration rules for some fund advisers.
• The proposal would double the small-pool exemption threshold from $400,000 to $800,000.
• The CFTC will accept public comments for 45 days after Federal Register publication.

The CFTC proposed rule changes that could ease registration requirements for some fund advisers and raise the small-pool limit to $800,000.

The proposal targets advisers already registered with the SEC and certain commodity pools serving qualified investors.

CFTC Chairman Michael S. Selig said the proposed changes aim to reduce duplicative regulatory requirements and improve US market competitiveness.

The proposed CPO exemption would cover qualifying pools with defined groups of sophisticated investors.

The CFTC would also extend related CTA registration relief to advisers serving pools covered by the proposed exemption.

The CFTC said the changes could reduce overlapping compliance duties while keeping existing SEC requirements and anti-fraud rules in place.