The CFTC and National Futures Association have begun to polish oversight of the commodity pool operator and commodity trading advisory community following the registration of hundreds of firms in 2012 as a result of changes brought about by Dodd-Frank. Since then, the NFA's CPO membership has increased by 50%, or about 600 firms, after the CFTC announced the rescission of two exemptions from having to register as a CPO or CTA. Further, the agency decided to include the use of OTC swaps in the definition of a CPO, further increasing the number of registrants to total more than 1,700 CPOs and over 1,000 CTAs.
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