<p>Commodity Futures Trading Commission Publishes Petition of National Futures Association to Amend Rule 4.5</p>

Commodity Futures Trading Commission Publishes Petition of National Futures Association to Amend Rule 4.5


By: David S. Mitchell, Mark Molle

The Commodity Futures Trading Commission ("CFTC") is seeking public comment on a petition submitted by the National Futures Association ("NFA"), a leading futures industry self-regulatory organization, to amend CFTC Rule 4.5, which provides an exclusion from the term "commodity pool operator" ("CPO") for specified persons operating certain otherwise regulated collective investment vehicles referred to therein as "qualifying entities" such as registered investment companies that engage in trading futures contracts or options on futures contracts.   Comments are due on or before October 18, 2010.

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