MFA Files Petition for Rulemaking to Amend Certain CPO/CTA Recordkeeping Requirements

MFA, jointly with the Investment Adviser Association and the Alternative Investment Management Association, submitted a petition to the Commission to amend:  (i) CFTC Regulation 1.31, which in part sets forth electronic recordkeeping and third-party technical consultant requirements; (ii) CFTC Regulations 4.7(b) and (c), which in part set forth recordkeeping requirements applicable to those registrants relying upon such exemptions; (iii) CFTC Regulation 4.23, which sets forth recordkeeping requirements generally applicable to CPOs; and (iv) CFTC Regulation 4.33, which sets forth recordkeeping requirements generally applicable to CTAs.

The petition requested that the Commission amend CFTC Regulation 1.31 to provide relief relating to certain electronic recordkeeping requirements applicable to CPOs and CTAs, including the requirement to use a third-party technical consultant. In addition, we requested that the Commission expand the list of permissible entities that may maintain records in CFTC Regulations 4.7(b) and (c), 4.23, and 4.33 to permit a CPO or CTA to retain any third party as a recordkeeper, as long as the CPO or CTA, as applicable, bears all responsibility for maintaining and producing required records pursuant to the Commission’s regulations.