The CFTC has adopted amendments to its regulations regarding periodic and annual reporting requirements applicable to CPOs. The amendments:

• specify detailed information that must be included in the periodic account statements and annual reports for commodity pools with more than one series or class of ownership interest;

• clarify that the periodic account statements must disclose either the net asset value per outstanding participation unit in the pool or the total value of a participant’s interest or share in the pool;

• extend the time period for filing and distributing annual reports of commodity pools that invest in other funds;

• codify existing Commission staff interpretations regarding the proper accounting treatment and financial statement presentation of certain income and expense items in the periodic account statements and annual reports;

• codify exemptions staff has provided to CPOs that operate offshore funds that elected to use non-United States GAAP in the preparation of pool financial statements;

• streamline annual reporting requirements for pools ceasing operation; and

• clarify and update several other requirements for periodic and annual reports prepared and distributed by CPOs.

The amendments will become effective 30 days from publication in the Federal Register; changes that affect annual reporting requirements will be applicable to commodity pool annual reports for fiscal years ending December 31, 2009 and later.