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Commodity Futures Trading Commission § 150.2

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Commodity Futures Trading Commission § 150.2 §§ 149.161–149.169 17 CFR Ch. I (4–1–20 Edition) §§ 149.161–149.169 [Reserved] (h) Appeals of the findings of fact and conclusions of law or remedies must be § 149.170 Compliance procedures. filed by the complainant within 90 days (a) Except as provided in paragraph of receipt from the agency of the letter (b) of this section, this section applies required by § 149.170(g). The agency to all allegations of discrimination on may extend this time for good cause. the basis of handicap in programs or (i) Timely appeals shall be accepted activities conducted by the agency. and processed by the head of the agen- cy. (b) The agency shall process com- (j) The head of the agency shall no- plaints alleging violations of section tify the complainant of the results of 504 with respect to employment accord- the appeal within 60 days of the receipt ing to the procedures established by of the request. If the head of the agen- the Equal Employment Opportunity cy determines that additional informa- Commission in 29 CFR part 1613 pursu- tion is needed from the complainant, ant to section 501 of the Rehabilitation he or she shall have 60 days from the Act of 1973 (29 U.S.C. 791). date of receipt of the additional infor- (c) The Executive Director of the mation to make his or her determina- Commission shall be responsible for co- tion on the appeal. ordinating implementation of this sec- (k) The time limits cited in para- tion. Complaints may be sent to the graphs (g) and (j) of this section may be Equal Employment Opportunity Offi- extended with the permission of the cer, Commodity Futures Trading Com- Assistant Attorney General. mission, Three Lafayette Centre, 1155 (l) The agency may delegate its au- 21st Street, NW., Washington, DC 20581. thority for conducting complaint in- (d) The agency shall accept and in- vestigations to other Federal agencies, vestigate all complete complaints for except that the authority for making which it has jurisdiction. All complete the final determination may not be complaints must be filed within 180 delegated to another agency. days of the alleged act of discrimina- tion. The agency may extend this time [51 FR 22889, 22896, June 23, 1986, as amended period for good cause. at 51 FR 22889, June 23, 1986; 60 FR 49336, Sept. 25, 1995] (e) If the agency receives a complaint over which it does not have jurisdic- tion, it shall promptly notify the com- PART 150—LIMITS ON POSITIONS plainant and shall make reasonable ef- forts to refer the complaint to the ap- Sec. 150.1 Definitions. propriate government entity. 150.2 Position limits. (f) The agency shall notify the Archi- 150.3 Exemptions. tectural and Transportation Barriers 150.4 Aggregation of positions. Compliance Board upon receipt of any 150.5 Exchange-set speculative position lim- complaint alleging that a building or its. facility that is subject to the Architec- 150.6 Responsibility of contract markets. tural Barriers Act of 1968, as amended AUTHORITY: 7 U.S.C. 6a, 6c, and 12a(5). (42 U.S.C. 4151–4157), or section 502 of SOURCE: 52 FR 38923, Oct. 20, 1987, unless the Rehabilitation Act of 1973, as otherwise noted. amended (29 U.S.C. 792), is not readily accessible to and usable by handi- § 150.1 Definitions. capped persons. As used in this part— (g) Within 180 days of the receipt of a (a) Spot month means the futures con- complete complaint for which it has ju- tract next to expire during that period risdiction, the agency shall notify the of time beginning at the close of trad- complainant of the results of the inves- ing on the trading day preceding the tigation in a letter containing— first day on which delivery notices can (1) Findings of fact and conclusions be issued to the clearing organization of law; of a contract market. (2) A description of a remedy for each (b) Single month means each separate violation found; and futures trading month, other than the (3) A notice of the right to appeal. spot month future. 360 VerDate Sep<11>2014 13:26 May 01, 2020 Jkt 250058 PO 00000 Frm 00370 Fmt 8010 Sfmt 8010 Q:\17\17V2.TXT PC31 kpayne on VMOFRWIN702 with $$_JOB Commodity Futures Trading Commission § 150.2 (c) All-months means the sum of all which may be incumbent upon the eli- futures trading months including the gible entity to fulfill; spot month future. (3) Who trades independently of the (d) Eligible entity means a commodity eligible entity and of any other inde- pool operator; the operator of a trading pendent account controller trading for vehicle which is excluded, or which the eligible entity; itself has qualified for exclusion from (4) Who has no knowledge of trading the definition of the term ‘‘pool’’ or decisions by any other independent ac- ‘‘commodity pool operator,’’ respec- count controller; and tively, under § 4.5 of this chapter; the (5) Who is: limited partner, limited member or (i) Registered as a futures commis- shareholder in a commodity pool the sion merchant, an introducing broker, operator of which is exempt from reg- a commodity trading advisor, or an as- istration under § 4.13 of this chapter; a sociated person of any such registrant, commodity trading advisor; a bank or or (ii) A general partner, managing trust company; a savings association; member or manager of a commodity an insurance company; or the sepa- pool the operator of which is excluded rately organized affiliates of any of the from registration under § 4.5(a)(4) of above entities: this chapter or § 4.13 of this chapter, (1) Which authorizes an independent provided that such general partner, account controller independently to managing member or manager com- control all trading decisions with re- plies with the requirements of § 150.4(c). spect to the eligible entity’s client po- (f) Futures-equivalent means an option sitions and accounts that the inde- contract which has been adjusted by pendent account controller holds di- the previous day’s risk factor, or delta rectly or indirectly, or on the eligible coefficient, for that option which has entity’s behalf, but without the eligible been calculated at the close of trading entity’s day-to-day direction; and and published by the applicable ex- (2) Which maintains: change under § 16.01 of this chapter. (i) Only such minimum control over (g) Long position means a long call the independent account controller as option, a short put option or a long un- is consistent with its fiduciary respon- derlying futures contract. sibilities to the managed positions and (h) Short position means a short call accounts, and necessary to fulfill its option, a long put option or a short un- duty to supervise diligently the trading derlying futures contract. done on its behalf; or (i) For the following commodities, (ii) If a limited partner, limited the first delivery month of the ‘‘crop member or shareholder of a commodity year’’ is as follows: pool the operator of which is exempt from registration under § 4.13 of this Commodity Beginning delivery month chapter, only such limited control as is corn ................................ December. consistent with its status. cotton ............................. October. (e) Independent account controller oats ................................ July. means a person— soybeans ........................ September. (1) Who specifically is authorized by soybean meal ................ October. soybean oil ..................... October. an eligible entity, as defined in para- wheat (spring) ................ September. graph (d) of this section, independently wheat (winter) ................ July. to control trading decisions on behalf of, but without the day-to-day direc- [52 FR 38923, Oct. 20, 1987, as amended at 53 tion of, the eligible entity; FR 41571, Oct. 24, 1988; 56 FR 14315, Apr. 9, (2) Over whose trading the eligible 1991; 57 FR 44492, Sept. 28, 1992; 58 FR 17981, entity maintains only such minimum Apr. 7, 1993; 64 FR 24046, May 5, 1999; 81 FR control as is consistent with its fidu- 91489, Dec. 16, 2016] ciary responsibilities for managed posi- tions and accounts to fulfill its duty to § 150.2 Position limits. supervise diligently the trading done No person may hold or control posi- on its behalf or as is consistent with tions, separately or in combination, such other legal rights or obligations net long or net short, for the purchase 361 VerDate Sep<11>2014 13:26 May 01, 2020 Jkt 250058 PO 00000 Frm 00371 Fmt 8010 Sfmt 8010 Q:\17\17V2.TXT PC31 kpayne on VMOFRWIN702 with $$_JOB § 150.3 17 CFR Ch. I (4–1–20 Edition) or sale of a commodity for future deliv- options thereon, in excess of the fol- ery or, on a futures-equivalent basis, lowing: SPECULATIVE POSITION LIMITS Limits by number of contracts Single Contract Spot month month All months Chicago Board of Trade Corn and Mini-Corn 1 ..................................................................................................... 600 33,000 33,000 Oats ............................................................................................................................... 600 2,000 2,000 Soybeans and Mini-Soybeans 1 .................................................................................... 600 15,000 15,000 Wheat and Mini-Wheat 1 ............................................................................................... 600 12,000 12,000 Soybean Oil ................................................................................................................... 540 8,000 8,000 Soybean Meal ............................................................................................................... 720 6,500 6,500 Minneapolis
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