Regulatory Alerts2014-03-13 | 2014-05465Added · Updated
Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations; Correction
The Commodity Futures Trading Commission issued correcting amendments to final rules published on November 14, 2013, which enhance protections for customer funds held by futures commission merchants and derivatives clearing organizations. This correction specifically addresses a typographical error in Appendix E to Part 30 by changing the phrase 'lines or credit' to 'lines of credit' within the acknowledgment letter for CFTC Regulation 30.7. The corrected rule became effective on March 13, 2014, ensuring the legal text accurately reflects the intended requirements for customer secured accounts.
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