Political Quotes

“I have an amendment at the desk. The CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Page 55, after line 2, insert the following: SEC. ___. TREATMENT OF CERTAIN FUNDS. (a) Amendment to the Definition of Commodity Pool Operator.--Section 1a(11) of the Commodity Exchange Act (7 U.S.C. 1a(11)) is amended by adding at the end the following: ``(C)(i) The term `commodity pool operator' does not include a person who serves as an investment adviser to an investment company registered pursuant to section 8 of the Investment Company Act of 1940 or a subsidiary of such a company, if the investment company or subsidiary invests, reinvests, owns, holds, or trades in commodity interests limited to only financial commodity interests. ``(ii) For purposes of this subparagraph only, the term `financial commodity interest' means a futures contract, an option on a futures contract, or a swap, involving a commodity that is not an exempt commodity or an agricultural commodity, including any index of financial commodity interests, whether cash settled or involving physical delivery. ``(iii) For purposes of this subparagraph only, the term `commodity' does not include a security issued by a real estate investment trust, business development company, or issuer of asset-backed securities, including any index of such securities.''. (b) Amendment to the Definition of Commodity Trading Advisor.--Section 1a(12) of such Act (7 U.S.C.…”