CFTC backs down on FCM residual interest rule
In light of industry criticism, the US Commodity Futures Trading Commission (CFTC) has watered down a key plank of its post-MF Global reforms to the treatment of segregated customer funds held by futures brokers.
The agency softened its approach as commissioners approved final rules in a 3–1 vote on October 30, almost two years after New York-based brokerage MF Global filed for bankruptcy.
The collapse of MF Global, along with the July 2012 failure of Iowa-based Peregrine Financial Group, raised
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