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"Top Priority" (Speech)

Statement of Commissioner Chilton Regarding the Importance of Protecting Customer Funds

Stating that "[o]ne of the most important functions of my job is to ensure that customer funds are protected [and that] when something like the MFGlobal debacle happens, I go into high gear," CFTC Commissioner Bart Chilton provides assurance to the markets by issuing a statement saying: "I will continue--daily--to monitor the active oversight action of our staff's activities in this matter. Right now, this is top on my agenda." Chilton also states that he intends to "actively pursue any and all other alternatives to protect customer funds, such as an insurance fund for derivative investors. This is an idea whose time has come."

Cross References: CEA Section 4d; CFTC Rules Part 190; Lofchie's Guide to CPO/CTA Regulation: Chapter 12, Insolvency.