Funds escape yo-yo effect as CFTC redefines US person
Scrapping of test means investor status will not tip offshore funds into Dodd-Frank regime
Offshore hedge funds can breathe a sigh of relief after the Commodity Futures Trading Commission (CFTC) narrowed the scope of its controversial US persons definition.
The CFTC's cross-border guidance had previously defined any offshore hedge fund with a majority of US investors as a US person, meaning the fund would have to comply with transaction-level requirements set out in the US Dodd-Frank
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