FINRA adopted amendments to provide margin relief for specified index option positions, referred to as "protected options."
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The CFTC Global Markets Advisory Committee advanced recommendations on: (i) the use of U.S. Treasuries as margin collateral, (ii) the securities market's move to T+1 securities settlement and (iii) a digital asset taxonomy.
The CFTC proposed amendments to allow foreign trade boards ("FBOTs") to offer direct trading access to U.S.-based introducing broker participants and to establish a process for FBOTs to request revocation of their registration.
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.
Senate Banking Committee Chair Sherrod Brown urged Cameron Fowler, the CEO of Zelle, the instant payment platform co-owned by seven "Big Banks," to clarify the firm's policies protecting consumers from scams.