Company: EUO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001193125-25-039791
Chunk: 15

Company: ProShares Trust II
Filing Date: 2025-02-28
Form: 10-K
Item: Item 9A
Chunk 15
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Disclosure Controls and Procedures 

The Trust and Funds maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “1934 Act”) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in company reports filed or submitted under the 1934 Act is accumulated and communicated to Management, including to our principal executive officer and our principal financial and accounting officer, to allow timely decisions regarding required disclosure. 

A material weakness in internal control over financial reporting with respect to controls related to the classification of the Futures Commission Merchant (“FCM”) Accounts, described below, was previously disclosed in Part II Item 9A Controls and Procedures in our Amended Annual Report on Form 10-K for the year ended December 31, 2023 and our Amended Quarterly Reports on Form 10-Q for the periods ended March 31, 2024 and June 30, 2024 and our Quarterly Report on Form 10-Q for the period ended September 30, 2024. With the participation of management, the principal executive officer and principal financial officer of the Trust evaluated the effectiveness of the Trust’s and the Funds’ disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the 1934 Act and, as a result of the material weakness described below, concluded that they were not effective as of December 31, 2024. 

Management’s Annual Report on Internal Control Over Financial Reporting 

The Trust’s management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f) and 15d-15(f) under the 1934 Act, of the Trust and the Funds. The Trust’s and the Funds’ internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Internal control over financial reporting includes those policies and procedures that: (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Trust and the Funds; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted