Carruzzo Comments on New CFTC Rules for Mutual Funds

Corporate associate Fabien Carruzzo was quoted in a Barron’s article on the Commodity Futures Trading Commission’s new rule that requires “mutual funds that use futures, options, swaps and similar derivatives register with the CFTC and adhere to it reporting and disclosure requirements…” The rule – in effect since 2003, but not affecting mutual funds until now - has caused confusion, and even a lawsuit filed by the Investment Company Institute and the U.S. Chamber of Commerce, since many of the reporting and disclosure requirements are the exact opposite of what the SEC and FINRA require. Carruzzo was quoted as saying that “The most debated question is whether this is necessary, but for a regulator, more regulation is better.”