CFTC’s Division Of Swap Dealer And Intermediary Oversight Issues Interpretative Letter Regarding Scope Of Bona Fide Hedging Exemption For Registered Investment Companies

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight today issued an interpretative letter that clarifies, in light of the recent court decision regarding the Commission’s position limits rule, the scope of the bona fide hedging exemption from the trading thresholds as applied to registered investment companies pursuant to Commission Regulation 4.5.