CFTC Proposes Rule Clarification For Commodity Trading Advisors

The Commodity Futures Trading Commission (CFTC) announced today that it is soliciting public comment on a proposed rule that would define the term “client” of a commodity trading advisor (CTA) and confirms the Commission’s antifraud authority over all CTAs, irrespective of whether they provide advice on a personalized or nonpersonalized basis.

The proposed rule amendment will be published in the Federal Register with a 60-day comment period. Copies may be obtained by contacting the Commission’s Office of the Secretariat, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5100 or by accessing the Commission’s website, www.cftc.gov. Interested parties may submit their comments electronically at secretary@cftc.gov. All comments received will be promptly posted on the Commission's website.