[Federal Register Volume 67, Number 243 (Wednesday, December 18, 2002)]
[Proposed Rules]
[Page 77446]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-31847]


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COMMODITY FUTURES TRADING COMMISSION

17 CFR Part 4

RIN 3038-AB34


Exclusion for Certain Otherwise Regulated Persons From the 
Definition of the Term ``Commodity Pool Operator''

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period.

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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.

ADDRESSES: Comments on the proposed rule should be sent to Jean A. 
Webb, Secretary, Commodity Futures Trading Commission, Three Lafayette 
Center, 1155 21st Street, NW., Washington, DC 20581. Comments may be 
sent by facsimile transmission to (202) 418-5528, or by e-mail to 
[email protected]. Reference should be made to ``Proposed Amendment to 
Rule 4.5 for Non-Hedge Activity.''

FOR FURTHER INFORMATION CONTACT: Barbara S. Gold, Associate Director, 
Division of Clearing and Intermediary Oversight, or Ronald Hobson, 
Industry Economist, Office of the Chief Economist, Commodity Futures 
Trading Commission, 1155 21st Street, NW., Washington, DC 20581, 
telephone number: (202) 418-5441 or (202) 418-5285, respectively; 
facsimile number: (202) 418-5536, or (202) 418-5660, respectively, and 
electronic mail: [email protected] or [email protected], respectively.

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.
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    \1\ 67 FR 65743.
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    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.
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    \2\ 67 FR 68785 (November 13, 2002).
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    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]
BILLING CODE 6351-01-M