106 STAT. 3626 PUBLIC LAW 102-546—OCT. 28, 1992 wool tops, fats and oils (including lard, tallow, cottonseed oil, peanut oil, soybean oil, and all other fats and oils), cottonseed meal, cottonseed, peanuts, soybeans, soybean meal, livestock, livestock products, and frozen concentrated orange juice, and all other goods and articles, except onions as provided in Public Law 85-839 (7 U.S.C. 13-1), and all services, rights, and interests in which contracts for future delivery are presently or in the future dealt in. "(4) COMMODITY POOL OPERATOR.—The term 'commodity pool operator* means any person engaged in a business that is of the nature of an investment trust, syndicate, or similar form of enterprise, and who, in connection therewith, solicits, accepts, or receives from others, funds, securities, or property, either directly or through capital contributions, the sale of stock or other forms of securities, or otherwise, for the purpose of trading in any commodity for future delivery on or subject to the rules of any contract market, except that the term does not include such persons not within the intent of the definition of the term as the Commission may specify by rule, regulation, or order. "(5) COMMODITY TRADING ADVISOR.— "(A) IN GENERAL.— Except as otherwise provided in this paragraph, the term 'commodity trading advisor* means any person who— "(i) for compensation or profit, engages in the business of advising others, either directly or through publications, writings, or electronic media, as to the value of or the advisability of trading in— "(I) any contract of sale of a commodity for future delivery made or to be made on or subject to the rules of a contract market; "(II) any commodity option authorized under section 4c; or "(III) any leverage transaction authorized under section 19; or "(ii) for compensation or profit, and as part of a regular business, issues or promulgates analyses or reports concerning any of the activities referred to in clause (i). ' *(B) EXCLUSIONS.— Subject to subparagraph (C), the term 'commodity trading advisor* does not include— "(i) any bank or trust company or any person acting as an employee thereof; "(ii) any news reporter, news colunmist, or news editor of the print or electronic media, or any lawyer, accountant, or teacher; "(iii) any floor broker or futures commission merchant; "(iv) the publisher or producer of any print or electronic data of general and regular dissemination, including its employees; "(v) the fiduciary of any defined benefit plan that is subject to the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001 et seq.); "(vi) any contract market; and
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