CFTC Seeks to Codify Certain Exemptions For Commodity ETFs Now Done Case-by-Case

The Commodity Futures Trading Commission asked for comment Sept. 8 on a proposal to provide exemptions for “commodity ETF” operators from certain disclosure, reporting, and recordkeeping requirements based on their substituted compliance with corresponding securities law requirements.

In a release set to be published shortly in the Federal Register, the CFTC said the proposed changes would affect commodity pool operators whose “participation units” are listed and traded on a national securities exchange—i.e., commodity exchange traded funds. Additionally, the proposed rule change would provide relief from the CPO registration requirement for certain independent directors or trustees of actively managed commodity ...