The CFTC withdrew its original proposal and newly proposed to allow an FCM, subject to certain conditions, to treat separate accounts of a single beneficial owner as if they were owned by different persons, for purposes of margin withdrawals from the separate accounts.
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Trade associations and financial groups responded to a CFTC proposal that would further define requirements on recovery and wind-down plans prepared by derivatives clearing organizations.
CFTC Commissioner Kristin N. Johnson expressed discomfort with the notion that investors could interact directly with other investors on an exchange without going through the intermediation of a futures commission merchant.
The CFTC set a comment deadline of September 26, 2023 for proposed amendments to wind-down plan requirements for derivatives clearing organizations.
The CFTC proposed further defining the requirements as to recovery and wind-down plans for derivatives clearing organizations.