Click here to close now.




















Welcome!

News Feed Item

Handler Thayer, LLP Family Office Update: CFTC Reinstates Family Office Exception

CHICAGO, Dec. 5, 2012 /PRNewswire/ -- On November 29, 2012, the Commodity Futures Trading Commission (the "CFTC") released a blanket No-Action Letter providing relief from registration as a Commodity Pool Operator ("CPO") to family offices that qualify for the Family Office Exemption created under the Dodd-Frank Act, modifying the Investment Advisers Act of 1940 (the "IAA").  This relief stems from the recent CFTC decision to rescind the CPO exemption in the Commodities Exchange Act that most family offices currently rely on to avoid registration.  Without the exemption, family offices investing in mutual funds or hedge funds owning commodities could be required to register as a CPO by December 31, 2012.

(Logo: http://photos.prnewswire.com/prnh/20100429/CG95838LOGO)

While the CFTC noted that family offices are "not operations of the type and nature that warrant regulatory oversight by the CFTC," the new "family office exemption" is not a self-executing exemption.  In order to obtain the relief set forth by the CFTC in the No-Action Letter, a family office is required to:

  1. Retain the Family Office Exemption pursuant to the IAA;
  2. Submit a claim for relief to the CFTC's Division of Swap Dealer and Intermediary Oversight by December 31, 2012, containing the name, address, and phone number of the family office, and the capacity and the name of the pools of commodities owned by the family office (if applicable); and,
  3. Prior to March 31, 2013, confirm its status as a family office and warrant that the family office will notify the CFTC if it no longer meets the definition of a family office pursuant to the IAA.

If you have any questions regarding this No-Action Letter or the family office exemption discussed herein, please contact Handler Thayer, LLP at (312) 641-2100.

Handler Thayer LLP, In the News

The December 2012 issue of Private Asset Management Magazine (PAM) conducted a "Focus on Legal Solutions" roundtable featuring Thomas J. Handler, discussing the impact of tax law and compliance regulations on the private asset management industry.

In TIME Magazine's December 3rd issue, Joel Stein's article, "Sweet Charity," quoted Washington, D.C. Handler Thayer Partner,  Andrew Morton.  "In the 1970s, athletes just did things for the United Way.  Now we live in this whole Facebook, social media, look-at-me kind of world where celebrities think, I can throw a football, so I'm a philanthropist.  No, you're a guy who can throw a football.  There are two types of missions.  You can have a mission to do stuff.  You can also have a mission of raising awareness.  [Philanthropy branding] is what you need to do if you want to have impact now.  Angelina Jolie: refugees.  Bono: AIDS.  George Clooney: Darfur."

The Institute for Private Investors (IPI) is an international association of family offices and ultra-high net worth investors.  IPI featured a summary of Thomas J. Handler's presentation with U.S. Trust to IPI, "The Dodd-Frank Act: Implications for Family Offices,"  in its 2012 Report which "highlights the best insights and thinking from the past 12 months."

SOURCE Handler Thayer, LLP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...