On September 8, 2014, the DSIO issued CFTC Letter No. 14-114 (Letter 14-114), which grants exemptive relief from the main office requirement of CFTC Rules 4.7(b)(4) and 4.23 to allow CPOs to use any third-party recordkeeper. Prior to the relief set forth in Letter 14-114, CPOs were only allowed to use the specific recordkeepers enumerated in "Harmonization of Compliance Obligations for Registered Investment Companies Required to Register as Commodity Pool Operators."

To be eligible for such relief, the following requirements must be satisfied:

• the CPO's timely access to such records must be maintained, such that the CPO will satisfy the obligations of the applicable CFTC rules, particularly with respect to providing such records for inspection; and

• the CPO must timely and completely file the statements required pursuant to CFTC Rule 4.7(b)(5) or 4.23(c), as applicable.

A link to Letter 14-114 can be found here.