95-95 ![PDF Image](https://webarchive.library.unt.edu/web/20120916171622im_/http://www.cftc.gov/ucm/fragments/web_header/img/icon-pdf.png)
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Section 4m(1), 7 U.S.C. 6m(1); Section 4k(2), 7 U.S.C. 6k(2); Rule 4.21 (as amended by 60 FR 38146 - 17 C.F.R 4.21, 4.24 & 4.26), 4.22, 4.23 (as amended by 60 FR 38146 - 17 C.F.R. 4.23);
No-Action; Exemption
Three corporate affiliates (CI, C2 and C3) of a holding company and one natural person^ (PI) who acts in various capacities in connection with such affiliates (e.g., as director, officer, employee or agent) were granted no-action releif from registration as commodity pool operatos (CPOs). CI, C2, C3, a fourth corporate affiliate (C4) and PI organized and operate, or assisted in the organization and assist in the operation of, 21 commodity pools. The releif was granted based on various factors, including two common factors: (1) none of the pools had United States investors; and (2) none of the pools' participants were solicited in the United States. The request for relief from CPO registration with respect to CI, C2, C3 and PI was initiated as a result of Pi's determination both to reside and conduct his various buinsess activities in the United States at least eight months of each year. PI also requested, but was not granted, no-action relef from registration as an associated person (AP). Instead, PI was required to register as an AP of C4, a registred CPO located in the United States. PI is an officer of C4 and C4 is the United States business located from which PI conducts his United States-based business activities. For two of the pools: (1) C4 is required to be listed as the registered CPO;(2) C4 was granted certain exemptive relief from the disclosre, reporting and recordkeeping requirements of the Part 4 Rules; and (3) C4 was granted exemptive relief from the provision of Rule 4.34 requiring that original books and records be maintained at the offices of C4. With respect to the operation of the same two pools, C4 and one of the previously identified corporate affiliates (CI through C3) agreed to accept joint and several liability for any violation of the Act or the regulations committed by C4 or such affiliate