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CFTC May Adopt New Rules for Mutual Funds in the Coming Days

According to a Bloomberg article, the CFTC may vote in the next few days to require mutual funds to abide by new marketing and registration rules when they use derivatives tied to commodities.  According to the article, multiple sources have said that the proposed regulation has been circulated for a final vote by the agency's five commissioners through a process called seriatim.  Through this process, Commissioners could also decide to hold a public vote.  The rule was proposed last year and would rescind exemptions from CFTC registration for mutual funds that use commodity-related derivatives.  The Mutual Fund Directors Forum opposed the proposed rule in a comment letter, stressing that material changes needed to be made to how the rule addresses the role of independent directors.