The Commodity Futures Trading Commission’s Division of Clearing and Intermediary Oversight (DCIO) has issued an Advisory regarding the offer and sale of foreign security futures products (FSFPs) to investors in the United States. In the Advisory, DCIO addresses the impact of a June 2009 Order issued by the Securities and Exchange Commission (SEC Order), which would permit the offer and sale of certain FSFPs to qualified U.S. investors. The DCIO Advisory reflects the CFTC staff’s view that the SEC Order (described below) “does not modify the existing regulatory program” applicable to the offer and sale of FSFPs under the Commodity Exchange Act (CEA). However, the SEC Order significantly narrows the class of U.S. investors that otherwise would be permitted to trade FSFPs under the CEA.