Futures SRO Committee Makes Fund Recommendations
The bankruptcy of MF Global and the loss of $1.6 billion in customer funds put the futures industry on notice. As a result, a special committee of representatives from the industry's self-regulatory organizations (SROs) has proposed four initial recommendations for changes to SRO rules and regulatory practices regarding customer segregated and secured funds held at the firm level.
The first recommendation is to require all futures commission merchants (FCMs) to file daily segregation and secured
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