[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR4.21]

[Page 178-179]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 4--COMMODITY POOL OPERATORS AND COMMODITY TRADING ADVISORS--Table of Contents
 
                   Subpart B--Commodity Pool Operators
 
Sec. 4.21  Required delivery of pool Disclosure Document.

    (a)(1) No commodity pool operator registered or required to be 
registered under the Act may, directly or indirectly, solicit, accept or 
receive funds, securities or other property from a prospective 
participant in a pool that it operates or intends to operate unless, on 
or before the date it engages in that activity, the commodity pool 
operator delivers or causes to be delivered to the prospective 
participant a Disclosure Document for the pool containing the 
information set forth in Sec. 4.24.
    (2) Notwithstanding the requirements regarding solicitation 
specified in paragraph (a)(1) of this section, a commodity pool operator 
may provide to a prospective participant either of the following 
documents prior to delivery of a Disclosure Document, subject to 
compliance with rules promulgated by a registered futures association 
pursuant to section 17(j) of the Act:
    (i) A profile document;
    (ii) Where the prospective participant is an accredited investor, as 
defined in 17 CFR 230.501(a), a notice of intended offering and 
statement of the terms of the intended offering.
    (b) The commodity pool operator may not accept or receive funds, 
securities or other property from a prospective participant unless the 
pool operator first receives from the prospective participant an 
acknowledgment signed and dated by the prospective participant stating 
that the prospective participant received a Disclosure Document for the 
pool. Where a Disclosure Document is delivered to a prospective pool 
participant by electronic means, in lieu of a manually signed and dated 
acknowledgment, the pool operator may establish receipt by electronic 
means that use a unique identifier to confirm the identity of the 
recipient of such Disclosure Document, Provided, however, That the 
requirement of

[[Page 179]]

Sec. 4.23(a)(3) to retain the acknowledgment specified in this paragraph 
(b) applies equally to such substitute evidence of receipt, which must 
be retained either in hard copy form or in another form approved by the 
Commission.

[60 FR 38183, July 25, 1995, as amended at 62 FR 39115, July 22, 1997; 
65 FR 58649, Oct. 2, 2000]