CFTC Issues Rules to Increase Oversight of Funds That Invest in Commodity Interests

more+
less-

On February 9, the Commodity Futures Trading Commission (CFTC) adopted amendments (Final Rules) to its regulations governing the registration of commodity pool operators (CPOs) and the compliance obligations of CPOs and commodity trading advisors (CTAs).1 As a result, advisers to investment companies that are registered with the Securities and Exchange Commission (SEC) pursuant to the Investment Company Act of 1940 (registered investment companies), among others, will now be required to (1) register with the CFTC as CPOs and (2) comply with the myriad of CFTC regulations applicable to CPOs.

Also on February 9, the CFTC proposed to harmonize certain CFTC regulations with SEC regulations (the Proposed Harmonization Rules). These rules were proposed to address issues faced by entities that are subject to CFTC and SEC regulation and oversight, so-called dual registrants, in trying to comply with conflicting and potentially duplicative regulatory requirements. The Proposed Harmonization Rules would afford exemptive relief from certain compliance obligations for CPOs, to the extent that they apply to registered investment companies and their advisers that are affected by the Final Rules, and amend certain CFTC regulations that apply to CPOs and CTAs generally.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Sutherland Asbill & Brennan LLP | Attorney Advertising

Written by:

more+
less-

Sutherland Asbill & Brennan LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×