Commodity derivatives regulation expands portfolio manager scope to include goods and mandates custodian appointment for compliance. Amendments add 'goods' as the underlying of commodity derivatives and permit portfolio managers to deal in goods received on physical settlement. Definitions are revised to reference registered custodians and to include goods alongside securities; a definition of securities lending is introduced. Portfolio managers dealing in commodity derivatives must appoint a custodian. Reporting and disclosure provisions are amended to require inclusion of units and value of goods in portfolio records and statements.
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Commodity derivatives regulation expands portfolio manager scope to include goods and mandates custodian appointment for compliance.
Amendments add "goods" as the underlying of commodity derivatives and permit portfolio managers to deal in goods received on physical settlement. Definitions are revised to reference registered custodians and to include goods alongside securities; a definition of securities lending is introduced. Portfolio managers dealing in commodity derivatives must appoint a custodian. Reporting and disclosure provisions are amended to require inclusion of units and value of goods in portfolio records and statements.
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