CFTC Status Sample Clauses
The CFTC Status clause defines the relationship of the parties to the Commodity Futures Trading Commission (CFTC) and clarifies whether either party is registered or required to be registered with the CFTC in a specific capacity, such as a commodity pool operator or commodity trading advisor. In practice, this clause may require each party to represent its regulatory status and compliance obligations, and may also address the implications if a party’s status changes during the contract term. Its core function is to ensure transparency regarding regulatory oversight, helping both parties understand their legal responsibilities and reducing the risk of regulatory non-compliance.
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CFTC Status. In order to ensure compliance with applicable regulations of the National Futures Association (“NFA”) and the CFTC, the Fund must ensure that each Subscriber that is required to register with the CFTC and to become a member of the NFA has done so. Accordingly, the Subscriber has checked the statement(s) below that apply to the Subscriber (or if the Subscriber is a commodity pool, to the operator thereof): The Subscriber hereby certifies that: The Subscriber (or if the Subscriber is a commodity pool, the operator thereof) is a member of the NFA and is registered with the CFTC as a: ___ futures commission merchant ___ introducing broker ___ commodity pool operator ___ commodity trading advisor ___ leverage transaction merchant ___ The Subscriber (or if the Subscriber is a commodity pool, the operator thereof) represents that it is not required to be a member of the NFA or to be registered with the CFTC in any of the above capacities. Please indicate basis of such exemption: