Proposed Rules. Extension of comment period

Agency: Commodity Futures Trading Commission
Action: Extension of comment period
Citation: FR Doc. 02-31847 · RIN 3038-AB34 · 17 CFR 4

Summary

The Commodity Futures Trading Commission (the “Commission” or “CFTC”) is extending the comment period for the proposed amendment to Rule. 4.5 (the “Proposal”) that would add an alternative limitation on the non-hedge activities of eligible persons claiming relief under the rule. The new deadline for submitting public comments is January 13, 2003.

Dates

Written comments must be received on or before January 13, 2003.

Supplementary Information

On October 28, 2002, the Commission published for comment a proposed amendment to Rule 4.5, 1 the rule that excludes certain eligible persons from the definition of the term “commodity pool operator” with respect to the operation of certain otherwise regulated entities, provided that certain commodity interest trading restrictions are met. The Proposal would add an alternative criterion for permissible non-hedge commodity interest trading by entities with respect to which exemption is claimed under Rule 4.5. The Proposal established a 45-day period for submitting public comment, ending December 12, 2002. 1 67 FR 65743. By letter dated December 10, 2002, a law firm representing futures industry participants requested an extension of the Proposal's comment period so that the expiration date of this comment period would conform with the expiration date of the comment period for the Commission's Advance Notice of Proposed Rulemaking (“ANPR”) regarding further exemptions from commodity pool operator and commodity trading advisor registration, 2 which is January 13, 2003. The request claims substantial overlap of many of the issues raised by the Proposal and by the ANPR and thus that conforming period for the two releases would facilitate a comprehensive treatment of related issues. 2 67 FR 68785 (November 13, 2002). In response to this request and in order to ensure that an adequate opportunity is provided for submission of meaningful comments, the Commission has determined to extend the comment period for the Proposal for an additional thirty days to January 13, 2003. Issued in Washington, DC on 12, 2002, by the Commission. Jean A. Webb, Secretary of the Commission. [FR Doc. 02-31847 Filed 12-17-02; 8:45 am]