Commodity Futures Trading Commission December 30, 2008 – Federal Register Recent Federal Regulation Documents
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Order Exempting the Trading and Clearing of Certain Products Related to iShares® COMEX Gold Trust Shares and iShares® Silver Trust Shares
On November 12, 2008, the Commodity Futures Trading Commission (``CFTC'' or the ``Commission'') published for public comment in the Federal Register \1\ a proposal to exempt the trading and clearing of certain contracts called ``options'' and other contracts called ``security futures'' on each of iShares[supreg] COMEX Gold Trust Shares (``Gold Products'') and iShares[supreg] Silver Trust Shares (``Silver Products'') (collectively, ``Gold and Silver Products'') from the provisions of the Commodity Exchange Act (``CEA'') \2\ and the regulations thereunder to the extent necessary to permit them to be traded and cleared as described below. The contracts are proposed to be traded on national securities exchanges (as to options) and designated contract markets registered with the Securities and Exchange Commission (``SEC'') as limited purpose national securities exchanges (as to security futures), and in both cases to be cleared through the Options Clearing Corporation (``OCC'') in its capacity as a registered securities clearing agency. Authority for this exemption is found in Section 4(c) of the CEA.\3\
Delegation of Authority and Change in Position Title
The Commodity Futures Trading Commission (``Commission'') is amending certain provisions of its part 140 regulations to add the Chief Economist and the Deputy Chief Economist of the Office of the Chief Economist as persons to whom certain authorities are delegated. The Commission is also amending part 140 to reflect a change in position title from ``Regional Coordinators'' to ``Regional Administrators.''
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