CPOs are required to provide an annual report to pool participants and the NFA. The report can be either in accordance with GAAP or, subject to certain conditions, IFRS. CFTC Staff, however, have been providing one-off relief to CPOs following accounting conventions of other jurisdictions. The CFTC recently proposed amending its regulations to allow CPOs to report in accordance with U.K. GAAP, New Irish GAAP, Luxembourg GAAP, and Canadian GAAP, subject to certain conditions. If the changes are adopted, CPOs with pools in foreign jurisdictions would not need to request individualized no-action relief should they wish to prepare pool financial statements in accordance with these accounting conventions.