Recently, Morrison and Foerster issued a client alert discussing the new CFTC rules that will require most funds investing in commodity-related instruments to register with the CFTC. The client alert provides an excellent summary of the rules, including what activities will trigger registration and what that registration means for funds. It also discusses the CFTC's proposed regulatory harmonization rule that attempts to reconcile conflicting requirements imposed on funds and advisers forced to register with both the SEC and CFTC under the new rules.