MFA Submits Letter of Support Regarding CFTC’s Proposal for Exemption from Registration for Certain Foreign Persons

On September 2, MFA submitted a letter to the CFTC in support of its proposed rulemaking to exempt from registration certain foreign persons.  The proposed rulemaking would provide an exemption to a foreign located person from registration with the CFTC as a futures commission merchant, introducing broker, commodity pool operator, or commodity trading advisor for activity in connection with commodity interest transactions solely on behalf of persons located outside the U.S., or on behalf of certain international financial institutions.  MFA agreed with the Commission that it should focus its customer protection activities upon domestic firms and upon firms soliciting or accepting orders from domestic participants.