CFTC Amendments to Registration and Compliance Rules — Lessons for Private Fund Managers

On Nov. 25, 2019, the Commodity Futures Trading Commission approved amendments that impact several registration and reporting exemptions, which will affect many hedge fund and private equity fund managers. While, in general, these are long-needed changes that streamline administrative processes or harmonize CFTC rules with those of other regulators or with actual market practice, every private fund manager relying on a CFTC exemption should review the details of the changes. In this article, associate Joshua Wright and former Schulte lawyer Brian Daly discuss the CFTC amendments and the impact on private fund managers.