CFTC Issues Final 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 final amendments to its rules regarding extensions of time to file and distribute annual reports for commodity pool operators (CPOs) who operate commodity pools that are invested in other collective investment vehicles. These commodity pools are commonly referred to as "funds of funds."

  � The extension is available to CPOs who are not able to obtain information from the collective investment vehicles in which their pools invest in sufficient time for their accountants to prepare, certify and distribute the pool’s reports by their due dates.� The extension is automatic after a notice filing from the CPO containing representations establishing the pool’s need for the extension.� CPOs claiming the extension will 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 CPO may confirm that the circumstances necessitating the relief continue to apply by restating certain representations in a statement filed at the same time as the pool’s Annual Report.

  � These amendments were published in the Federal Register on December 26, 2000. CPOs may follow this revised rule in filing annual reports due to be filed in calendar year 2001 for fiscal years ending in 2000.

  � Copies may be obtained by contacting the Commission's Office of the Secretariat, Three Lafayette Centre, 1155 21^st Street, NW, Washington, DC 20581, (202) 418-5100.