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18.106. Legal, Tax and Regulatory Risks

Legal, tax and regulatory changes could occur that may materially adversely affect the Investment Compartment. For example, the regulatory and tax environment for derivative instruments in which the Investment Compartment may participate is evolving, and changes in the regulation or taxation of derivative instruments may materially adversely affect the value of derivative instruments held by the Investment Compartment and the ability of the Investment Compartment to pursue its investment strategies.