In two letters dated November 29, 2012, the Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission offered the following no-action relief:

• relief from registration as a commodity pool operator to certain family offices that (i) submit a claim for the relief and (ii) remain in compliance with rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940.
• temporary relief from registration as a commodity pool operator to certain funds of funds until the later of (i) June 30, 2013 or (ii) six months from the release date of revised guidance on the application of the calculation of the de minimis thresholds in the context of sections 4.5 and 4.13(a)(3), subject to certain requirements.