Regulation
Managed futures accounts are regulated by the U.S. federal government, through the CTAs and CPOs advising the funds. Most all of these entities are required to register with the Commodity Futures Trading Commission and the National Futures Association and follow their regulations on disclosure and reporting.
The 2010 enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act led to increased regulation of the managed futures industry. On January 26, 2011, the CFTC made additions and amendments to the regulation of CPOs and CTAs, including two new forms of data collection. The CFTC also introduced regulation to require greater reporting of data and amend its registration requirements. Under the new amended registration requirement, funds that use swaps or other commodity interests may be defined as commodity pools and as such their operators must register with the CFTC, where previously they did not. On 17 April 2012, the United States Chamber of Commerce and the Investment Company Institute filed a lawsuit against the CFTC, aiming to overturn this change to rules that would require the operators of mutual funds investing in commodities to be registered.
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—David Hume (1711–1776)
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