On April 17, the Investment Company Institute and the U.S. Chamber of Commerce filed a complaint challenging the Commodity Futures Trading Commission’s recent changes to its Rule 4.5, which governs registration of registered funds and their advisers as commodity pool operators. The complaint argues that the amendment of Rule 4.5 was arbitrary and capricious, and that the CFTC violated the Administrative Procedure Act and the Commodity Exchange Act.

Click here to read more on the legal challenge.