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CFTC To Propose HF Advisors Rule

The Commodity Futures Trading Commission will propose a new rule covering hedge fund managers.

The Commodity Futures Trading Commission (CFTC) will propose a new rule covering hedge fund managers, FINalternatives reports. The agency is set to hold a hearing on Jan. 26, 2011 regarding the proposed joint Securities and Exchange Commission (SEC) rule.

The SEC has delayed seven rules, including one that will revise the definition of accredited investor due to funding shortages and it is set to miss a February deadline to release a new rule to cut back on speculative commodity trading. The U.S. Financial Stability Oversight Council is also implementing the Volcker rule, which strictly limits banks’ alternative investments activities and bars them from proprietary trading.

Click here for the story from FINalternatives.

Click here for additional coverage from Reuters.

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