Futures Industry SRO Committee Announces Additional Initiatives to Strengthen Safeguards For Customer Segregated Funds

A special SRO Committee has proposed additional requirements to the SRO rules and regulatory practices designed to strengthen safeguards for customer segregated and secured funds held at FCMs. The additional requirements would begin the process of confirming the balances of customer segregated bank accounts for all FCMs using a web-based electronic confirmation process and will develop rules to require all FCMs to provide their DSRO with direct online access to confirm segregated and secured funds balances at banks which hold the funds.