Comments from a three-judge panel this week suggested that the mutual fund industry's challenge of rules granting the Commodity Futures Trading Commission increased oversight of funds involved in trading commodities might be premature. The judges questioned whether the rule has been in effect long enough to determine its burden on mutual funds. The CFTC currently has the right to require that funds trading commodities register with the regulator, and the judges suggested that a challenge of the rules that resulted from a study based on the registration might be more appropriate than challenging the rule requiring the registration itself.

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