On May 18th, the CFTC authorized the National Futures Association to process claims of exemption from certain Part 4 requirements for commodity pool operators with respect to pools whose units are listed and traded on a national securities exchange ("Commodity ETFs"); and notices of exemption from registration as a CPO filed by independent directors or trustees of Commodity ETFs. The CFTC also authorized the NFA to maintain and serve as the official custodian of certain CFTC records. The new rules are effective June 17, 2011. 76 FR 28755.