Operators of Mortgage REITs Exempted from Requirements for Commodity Pool Operators
11 December 2012
The Commodity Futures Trading Commission's ("CFTC") Division of Swap Dealer and Intermediary Oversight has issued a no-action letter that exempts an operator of a mortgage REIT ("mREIT") that satisfies certain specified criteria from the requirements applicable to "commodity pool operator". As a result, the operators of qualifying mREITs will not need to register as "commodity pool operators". However, this exemption is not self-executing and the mREIT must file a claim for relief.
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