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The Commodity Futures Trading Commission (Commission) is proposing to amend its regulations governing Commodity Pool Operators (CPOs) in part 4 of its regulations. Under the proposed amendments, for purposes of part 4 compliance, a CPO would be able to treat a series of a business organization as an independent commodity pool if that series maintains limitations on liability against each other series in that organization. The Commission is also proposing to codify relief that is regularly granted to CPOs of funds-of-funds permitting them to distribute periodic account statements on an alternate schedule.  The proposal would also codify longstanding relief provided to CPOs permitting them to delegate their authority with respect to a particular pool to another CPO.  Finally, the Commission is making certain technical corrections to various provisions in part 4.