On February 9, 2012, the Commodity Futures Trading Commission (CFTC) issued a final rule regarding changes to Part 4 of the Commission's regulations involving registration and compliance obligations for commodity pool operators (CPOs) and commodity trading advisors (CTAs). The rule is divided into changes to Rule 4.5 (relevant to mutual funds and other registered investment companies), Rule 4.13(a)(4) (rescinding a CPO exemption widely used by managers of 3(c)(7) funds), and Rule 4.27 (imposing new reporting obligations).

Source: Investment Management Alert
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