The Commodity Futures Trading Commission (CFTC) has asked for public comment on a rulemaking petition from the National Futures Association (NFA), which would narrow the scope of the regulatory exclusion for registered investment companies from commodity pool operators (CPO) status.
Registered investment companies are at present eligible for a broad exemption from CPO status. 17 C.F.R. 4.5, but the petition would require that RICs seeking such an exemption represent that their funds will use commodity futures and commodity options contracts only for bona fide hedging purposes and that the fund will not be marketed to the public as a commodity pool.
The petition contemplates the application of these limits even retrospectively, to companies that previously had filed notices under the broader exemption, though it recommends that these companies be given time to come into compliance.
October 18 (my 52d birthday) is the deadline for comments.
Showing posts with label Commodity Futures Trading Commission. Show all posts
Showing posts with label Commodity Futures Trading Commission. Show all posts
Monday, September 20, 2010
Sunday, February 15, 2009
The next big thing
The new President's first legislative victory is in the record books. He has his stimulus plan. Happy President's Day, Mr. President!
The biggest domestic issue on his agenda now is the one that most impacts the concerns of this humble blog. The Obama administration and its allies in Congress will turn to an overhaul of the financial-regulatory system.
What does "overhaul" mean? Right now it means a swirl of different and contending ideas. Some would have the CFTC combine with the SEC into one agency, along the lines of the Financial Services Authority in the UK.
Some would have the banking regulators, too, brought into the recharting.
But, so that it won't be just a re-charting, most plans would involve a beefing up of money and people devoted to the enforcement of regulations and the pursuit of lawbreakers.
Here's a link to an article in the Wall Street Journal earlier this month reviewing some of the ideas and some of the participants.
My own view? Frankly I've completely lost confidence in my predictive abilities of late.
The biggest domestic issue on his agenda now is the one that most impacts the concerns of this humble blog. The Obama administration and its allies in Congress will turn to an overhaul of the financial-regulatory system.
What does "overhaul" mean? Right now it means a swirl of different and contending ideas. Some would have the CFTC combine with the SEC into one agency, along the lines of the Financial Services Authority in the UK.
Some would have the banking regulators, too, brought into the recharting.
But, so that it won't be just a re-charting, most plans would involve a beefing up of money and people devoted to the enforcement of regulations and the pursuit of lawbreakers.
Here's a link to an article in the Wall Street Journal earlier this month reviewing some of the ideas and some of the participants.
My own view? Frankly I've completely lost confidence in my predictive abilities of late.
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