Company: DEFI
Filing Date: 2025-03-17
Form Type: S-1/A
Source: 0001387131-25-000058
Chunk: 249

Company: Tidal Commodities Trust I
Filing Date: 2025-03-17
Form: S-1/A
Chunk 249
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 respect to the activities of those persons
and/or entities. Under the CEA, a registered commodity pool operator, such as the Sponsor, is required to make annual filings with
the CFTC and the NFA describing its organization, capital structure, management and controlling persons. In addition, the CEA authorizes
the CFTC to require and review books and records of, and documents prepared by, registered commodity pool operators. Pursuant to
this authority, the CFTC requires commodity pool operators to keep accurate, current and orderly records for each pool that they
operate. The CFTC may suspend the registration of a commodity pool operator (1) if the CFTC finds that the operator’s trading
practices tend to disrupt orderly market conditions, (2) if any controlling person of the operator is subject to an order of the
CFTC denying such person trading privileges on any exchange, and (3) in certain other circumstances. Suspension, restriction or
termination of the Sponsor’s registration as a commodity pool operator would prevent it, until that registration were to
be reinstated, from managing the Fund, and might result in the termination of the Fund if a successor sponsor is not elected pursuant
to the Trust Agreement. Neither the Trust nor the Fund is required to be registered with the CFTC in any capacity.

The Fund’s investors
are afforded prescribed rights for reparations under the CEA. Investors may also be able to maintain a private right of action
for violations of the CEA. The CFTC has adopted rules implementing the reparation provisions of the CEA, which provide that any
person may file a complaint for a reparations award with the CFTC for violation of the CEA against a floor broker or an FCM, introducing
broker, commodity trading advisor, CPO, and their respective associated persons.

The regulations of
the CFTC and the NFA prohibit any representation by a person registered with the CFTC or by any member of the NFA, that registration
with the CFTC, or membership in the NFA, in any respect indicates that the CFTC or the NFA has approved or endorsed that person
or that person’s trading program or objectives. The registrations and memberships of the parties described in this summary
must not be considered as constituting any such approval or endorsement. Likewise, no futures exchange has given or will give any
similar approval or endorsement.

Trading venues in
the United States are subject to varying degrees of