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The CFTC issued no-action relief to entities operating issuers of insurance-linked securities which exempt them from commodity pool operator registration, subject to certain conditions.
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On December 19, 2014, the CFTC issued no-action relief to
entities operating issuers of insurance-linked securities
("ILS Issuer") which exempt them from commodity pool
operator registration, subject to certain conditions. To claim the
relief, an operator of an ILS Issuer must file a notice of
exemption with the National Futures Association pursuant to CFTC
Regulation 4.13(b).
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