res industry self-regulatory organizations form joint committee to address customer segregation issues (Press Release)
CME Group and National Futures Association announced, in conjunction with the InterContinental Exchange), the Kansas City Board of Trade and the Minneapolis Grain Exchange, the formation of a joint committee to review how self-regulatory organizations can strengthen current safeguards for customer segregated funds held at the firm level in light of the MF Global bankruptcy. This coordinated effort by all of the futures industry self-regulatory organizations will examine what changes can be made to rules or to the ways firms demonstrate compliance with those rules to prevent customer losses due to the insolvency of a futures commission merchant.
Cross References: CEA Section 4d; CFTC Rules 30.7 Part 190; Lofchie's Guide to CPO/CTA Regulation: Chapter 12, Insolvency.