CFTC Issues Proposed Rules Regarding Extensions of Time to File Annual Reports for Commodity Pools that are Invested in Other Collective Investment Vehicles

��� Washington --The Commodity Futures Trading Commission (Commission) today issued proposed amendments to its rules regarding extensions of time to file and distribute annual reports for commodity pools that are invested in other collective investment vehicles, commonly referred to as "funds of funds."

��� Due to the increasing number of requests for extensions of time to file annual reports for funds of funds, the Commission is proposing to make these extensions available on a standardized basis. The extension would be automatic after a notice filing from the CPO containing representations establishing the pool’s need for the extension. The proposal provides that CPOs claiming the extension would file an initial notice, containing specified representations, in advance of the annual report’s due date for the first year the extension is claimed. In subsequent years, the representations could be made in a statement filed at the same time as the pool’s annual report. In order to treat similarly situated pools fairly and equitably, the proposed rules would apply whether or not a CPO was previously granted an extension of time to file the annual reports of funds of funds.

��� These amendments were published in the Federal Register on November 7, 2000. Copies may be obtained by contacting the Commission's Office of the Secretariat, Three Lafayette Centre, 1155 21^st Street, N.W., Washington, D.C. 20581, (202) 418-5100. Public comments on the proposed rule amendments must be received at the Office of the Secretariat on or before December 7, 2000.