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Rating:Commodity-Using Funds Face New Oversight Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 09, 2012

Commodity-Using Funds Face New Oversight

News summary by MFWire's editors

After a nine-year break, mutual funds that use futures and other commodities-tied investing products will again have to register with a second regulatory master. Today, by a vote of four to one, the Commodity Futures Trading Commission (CFTC) released a rule lifting the CFTC-registration exemption such mutual funds had enjoyed since 2003.

Silla Brush of Bloomberg reported on the CFTC's decision. The wire service noted the ICI's staunch opposition to the change on grounds of duplicating oversight, as mutual funds already register with the Securities and Exchange Commission (SEC).

CFTC chairman Gary Gensler issued a statement about the ruling, which will take effect 60 days after the CFTC publishes it in the Federal Register. The lone dissenting commissioner, Jill Sommers, responded with two statements of her own [here and here].

The news, that the CFTC was considering such a change, first broke last month [see MFWire.com, 1/23/2012 and 2/7/2012]. 

Edited by: Neil Anderson, Managing Editor


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