Exemptions

Commodity pool operators (CPO) and commodity trading advisors (CTA) must electronically file with NFA notices of exclusion or exemption from CFTC Part 4 Requirements using NFA's Exemptions System. In order to access this system, the firm's security manager(s) must set up EasyFile security.

Annual Affirmation Process

CFTC regulations require any person claiming an exemption or exclusion from CPO registration under CFTC Regulation 4.5, 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), 4.13(a)(5) or an exemption from CTA registration under 4.14(a)(8) to annually affirm the applicable notice of exemption or exclusion within 60 days of the calendar year end. At the end of each year, NFA emails a reminder of the affirmation period.  The affirmation process can be completed by logging into the Exemptions System below.

Effective with the affirmation ending March 1, 2021, persons re-affirming an exemption under 4.13(a)(1), 4.13(a)(2), 4.13(a)(3) and 4.13(a)(5) will be required to attest that neither the person nor its principals has in its background any statutory disqualifications listed under Section 8a(2) of the Commodity Exchange Act.

For registered CPOs or CTAs, withdrawal of the exemption/exclusion will result in the firm being subject to Part 4 Requirements for that pool regardless of whether the firm otherwise remains eligible for the exemption/exclusion. For non-registrants, the withdrawal of the exemption may subject you to enforcement action by the CFTC.

Related Resources

• CFTC Part 4 Easy Reference Guide
• Exemptions System User Guide (PDF)
• How to Notify NFA of the use of Additional Alternative GAAP (PDF)
• Multi-Factor Authentication Requirements for the Exemptions System: Non-Registrants (PDF)