97-18 ;
Rules 4.21, 4.22(a) and (b), 4.24, 4.25, 4.26;
Exemption
The Division of Trading and Markets permitted a registered CPO/CTA to continue to claim relief under Rules 4.21, 4.22(a) and (b), 4.24, 4.25, 4.26 from certain disclosure and monthly reporting requirements despite the acceptance of additional limited partners (New Limited Partners) as investors in a commodity pool that invests primarily in U.S. securities. The CPO/CTA will: (1) provide each New Limited Partner with the pool's Limited Partnership Agreement, Private Placement Memorandum, quarterly financial statements and audited annual financial statements; (2) notify each New Limited Partner that the pool is operated pursuant to exemptive relief granted by the Division; (3) explain the nature and purpose of such exemption; (4) obtain from each New Limited Partner has written acknowledgment that he does not object to the pool's operation pursuant to exemptive relief; and (5) cause any New Limited Partner who ceases to be an employee of the CPO or the pool's co-investment manager to redeem or transfer his interests in the pool. In addition, all limited partners will have access to the pool's books and records.