§ 6n. Registration of commodity trading advisors and commodity pool operators; application; expiration and renewal; record keeping and reports; disclosure; statements of account
954 words·~4 min read·
/usc/title-7/section-6nA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Any commodity trading advisor or commodity pool operator, or any person who contemplates becoming a commodity trading advisor or commodity pool operator, may register under this chapter by filing an application with the Commission. Such application shall contain such information, in such form and detail, as the Commission may, by rules and regulations, prescribe as necessary or appropriate in the public interest, including the following:
(A)the name and form of organization, including capital structure, under which the applicant engages or intends to engage in business; the name of the State under the laws of which he is organized; the location of his principal business office and branch offices, if any; the names and addresses of all partners, officers, directors, and persons performing similar functions or, if the applicant be an individual, of such individual; and the number of employees;
(B)the education, the business affiliations for the past ten years, and the present business affiliations of the applicant and of his partners, officers, directors, and persons performing similar functions and of any controlling person thereof;
(C)the nature of the business of the applicant, including the manner of giving advice and rendering of analyses or reports;
(D)the nature and scope of the authority of the applicant with respect to clients’ funds and accounts;
(E)the basis upon which the applicant is or will be compensated; and
(F)such other information as the Commission may require to determine whether the applicant is qualified for registration.
(2)Each registration under this section shall expire on the 30th day of June of each year, or at such other time, not less than one year from the effective date thereof, as the Commission may by rule, regulation, or order prescribe, and shall be renewed upon application therefor subject to the same requirements as in the case of an original application.
(A)Every commodity trading advisor and commodity pool operator registered under this chapter shall maintain books and records and file such reports in such form and manner as may be prescribed by the Commission. All such books and records shall be kept for a period of at least three years, or longer if the Commission so directs, and shall be open to inspection by any representative of the Commission or the Department of Justice. Upon the request of the Commission, a registered commodity trading advisor or commodity pool operator shall furnish the name and address of each client, subscriber, or participant, and submit samples or copies of all reports, letters, circulars, memorandums, publications, writings, or other literature or advice distributed to clients, subscribers, or participants, or prospective clients, subscribers, or participants.
(B)Unless otherwise authorized by the Commission by rule or regulation, all commodity trading advisors and commodity pool operators shall make a full and complete disclosure to their subscribers, clients, or participants of all futures market positions taken or held by the individual principals of their organization.
(4)Every commodity pool operator shall regularly furnish statements of account to each participant in his operations. Such statements shall be in such form and manner as may be prescribed by the Commission and shall include complete information as to the current status of all trading accounts in which such participant has an interest.
(Sept. 21, 1922, ch. 369, § 4n, as added Pub. L. 93–463, title II, § 205(a), Oct. 23, 1974, 88 Stat. 1398; amended Pub. L. 95–405, § 9, Sept. 30, 1978, 92 Stat. 870; Pub. L. 97–444, title II, § 213, Jan. 11, 1983, 96 Stat. 2305.)
Connections27 cite this · traces to 1
Cited by 27 sections · top 23
statutes-at-large
- Public Law 93–463To amend the Commodity Exchange Act to strengthen the regulation of futures trading, to bring all agricultural and other commodities traded on exchanges under regulation, and for other purposes
- Public Law 95–405To extend the Commodity Exchange Act, and for other purposes
- Public Law 97–444To extend the Commodity Exchange Act, and for other purposes.s Jan. 11, 1983 [[H
register
- Rules and RegulationsFinal rule
- NoticesFinal rule
- NoticesSemiannual Regulatory Agenda
- Proposed RulesNotice of proposed rulemaking
- Rules and RegulationsFinal rule
- NoticesJoint proposed rules
- Rules and RegulationsJoint final rule
- NoticesProposed rule
- NoticesJoint proposed rules
- UnknownAffirmation of interim rule as final rule
- NoticesNotice of proposed rulemaking
- Rules and RegulationsFinal rule
- Proposed RulesNotice of proposed special conditions
- NoticesJoint proposed rule
- NoticesJoint final rules
- NoticesNotice of proposed rulemaking
- NoticesSupplemental notice of proposed rulemaking
statute-compilations
13 references not yet in our index
- Sept. 21, 1922, ch. 369, § 4n
- Pub. L. 93–463, title II, § 205(a)
- 88 Stat. 1398
- Pub. L. 95–405, § 9
- 92 Stat. 870
- Pub. L. 97–444, title II, § 213
- 96 Stat. 2305
- Pub. L. 97–444
- Pub. L. 95–405, § 9(1)
- section 239 of Pub. L. 97–444
- Pub. L. 95–405
- section 28 of Pub. L. 95–405
- section 418 of Pub. L. 93–463
Citation graph
cites case law
§ 6n
Registration of commodity trading advisors and commodity pool operators; application; expiration and renewal; record keeping and reports; disclosure; statements of account
Fed. Reg.×21
Stat.×3
Bills×2
Stat. Comp.×1
ActSept. 21, 1922, ch. 369, § 4n
Pub. L.Pub. L. 93–463, title II, § 205(a)
Stat.88 Stat. 1398
Pub. L.Pub. L. 95–405, § 9
Stat.92 Stat. 870
Cites 14 · showing 6Cited by 27 across 4 sources