Conference Call on Monday, December 10 to Discuss CFTC's Proposal to Enhance Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations
[26686]
November 14, 2012
TO: CLOSED-END INVESTMENT COMPANY COMMITTEE No. 45-12DERIVATIVES MARKETS ADVISORY COMMITTEE No. 64-12
SEC RULES COMMITTEE No. 71-12 RE: CONFERENCE CALL ON MONDAY, DECEMBER 10 TO DISCUSS CFTC'S PROPOSAL TO ENHANCE PROTECTIONS AFFORDED CUSTOMERS AND CUSTOMER FUNDS HELD BY FUTURES COMMISSION MERCHANTS AND DERIVATIVES CLEARING ORGANIZATIONS
As we previously informed you, the Commodity Futures Trading Commission has proposed new rules and rule amendments to require enhanced customer protections, risk management programs, internal monitoring and controls, capital and liquidity standards, customer disclosure, and auditing and examination programs for futures commission merchants (“FCMs”). [1] The Proposal is intended to provide greater protections to customers and to the funds deposited by customers with FCMs and derivatives clearing organizations. Comments on the Proposal are due by January 14, 2013.
ICI will hold a member call on Monday, December 10 at 2:00 p.m. ET to discuss the Proposal and possible ICI comments. The dial-in number for the call is 888-946-7620 and the passcode is 49752. If you plan to participate, please RSVP to Ruth Tadesse via email (rtadesse@ici.org).
Jennifer S. Choi
Senior Associate Counsel – Securities Regulation
endnotes
[1] Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations, 77 FR 67866 (Nov. 14, 2012) (“Proposal”), available at http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2012-26435a.pdf. For a summary of the Proposal, see ICI Memorandum No. 26636