US Regulator Enhances Client Funds Protection Mechanisms
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US Regulator Enhances Client Funds Protection Mechanisms
The U.S. Commodities Futures Trading Commission has introduced a set of three new measures which are designated to deliver to clients of U.S. brokers better protection of client funds. The steps are enacted by the regulator in order to respond to certain concerns voiced by the industry.
The US regulator has approved an order that exempts Federal Reserve Banks that are holding client funds for derivatives clearing organizations (DCOs) from liability under the Commodity Exchange Act (CEA).
This move allows DCOs that have been categorized as systemically important to use Federal Reserve Banks to hold customer funds without being subject to liability ... (read more)
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