95-32 ![PDF Image](https://webarchive.library.unt.edu/web/20121007135706im_/http://www.cftc.gov/ucm/fragments/web_header/img/icon-pdf.png)
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Rule 4.7;
No-Action
The CPOs of three commodity pools, in which not all of the participants are QEPs, may invest more than ten percent of the pools' assets in Rule 4.7 exempt pools (notwithstanding Rule 4.7(a)(l)(ii)(B)(2)(xi)), provided that, the CPOs notify the non-QEP participants of the intended investment and give them an opportunity to redeem their pool interests within 10 days of the notification. Relief is based, in part, upon representations that: (1) all the non-QEPs were investors before Rule 4.7 was adopted; (2) all had contributed at least $100,000; (3) all were "accredited investors"; and (4) the CPOs would continue to comply with the reporting and recordkeeping requirements of Rules 4.22 and 4.23