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Code · BILL · 113th Congress · H.R. 4413 (Referred in Senate) — To reauthorize the Commodity Futures Trading Commission, to better protect futures customers, to provide end users wi... · Sec. 361

Sec. 361. Treatment of certain funds

282 words·~1 min read·/bill/113/hr/4413/rfs/section-361

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Section 1a(11) of the Commodity Exchange Act ( 7 U.S.C. 1a(11) ) is amended by adding at the end the following: The term commodity pool operator does not include a person who serves as an investment adviser to an investment company registered pursuant to section 8 of the Investment Company Act of 1940 or a subsidiary of such a company, if the investment company or subsidiary invests, reinvests, owns, holds, or trades in commodity interests limited to only financial commodity interests.
For purposes of this subparagraph only, the term financial commodity interest means a futures contract, an option on a futures contract, or a swap, involving a commodity that is not an exempt commodity or an agricultural commodity, including any index of financial commodity interests, whether cash settled or involving physical delivery. For purposes of this subparagraph only, the term commodity does not include a security issued by a real estate investment trust, business development company, or issuer of asset-backed securities, including any index of such securities. .
Section 1a(12) of such Act ( 7 U.S.C. 1a(12) ) is amended by adding at the end the following: The term commodity trading advisor does not include a person who serves as an investment adviser to an investment company registered pursuant to section 8 of the Investment Company Act of 1940 or a subsidiary of such a company, if the commodity trading advice relates only to a financial commodity interest, as defined in paragraph (11)(C)(ii) of this section. For purposes of this subparagraph only, the term commodity does not include a security issued by a real estate investment trust, business development company, or issuer of asset-backed securities, including any index of such securities. .
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Sec. 361
Treatment of certain funds
U.S.C.§ 1a
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