Financial Regulatory Forum

Futures customer protections improved in U.S. and overseas after frauds

By Guest Contributor
July 17, 2012

By Nick Paraskeva

NEW YORK, July 17 (Thomson Reuters Accelus) - The CFTC approved tough customer protection rules for futures firms’ days after the Peregrine default led to over $200 million in missing client funds. Losses arising from a fraud by the owner of the futures broker come soon after a $1.6 billion hole in client funds from the collapse of MF Global. The new rules require daily calculations of client money to be reported, and for senior management to certify cash movements.

New OTC swaps rules must apply to all – U.S. regulatory official

By Reuters Staff
March 2, 2010

WASHINGTON, March 2 (Reuters) – Congress should not create blanket exemptions for end users from new rules designed to make trading of the over-the-counter derivatives more transparent, a commissioner on the top U.S. futures regulator said on Tuesday.