FCMs are currently relying on no-action relief that allows them to separately margin accounts of the same beneficial owner. This rule marks the second attempt by the CFTC to codify that relief. FIA’s letter asks the CFTC to codify the relief as written without laying on additional highly prescriptive requirements that limit FCM discretion to risk manage accounts.
CONTINUE READINGFIA has filed additional comments opposing application of the US Securities and Exchange Commission’s proposed “safeguarding” rule to FCMs. The SEC recently re-opened the public comment period on the proposal, which would replace its existing custody rule for qualified custodians, including FCMs.
CONTINUE READINGFIA has joined with a diverse set of trade associations – 26 in total – in sending a letter to US Securities and Exchange Commission Chair Gary Gensler urging the SEC not to adopt the Safeguarding Advisory Client Assets proposed rule in its current form.
CONTINUE READINGFIA has filed comments with the US Securities and Exchange Commission (SEC) on a proposal that would replace its existing custody rule. FIA’s comment letter highlights the proposed rule’s potential harms to Futures Commission Merchants (FCMs), registered investment advisers (RIAs) and their underlying customers.
CONTINUE READINGFIA has expressed concern that the proposed requirements could have negative effects on the timing and operational complexity of returning funds to clients, hindering CMs' ability to dynamically meet the needs of their clients.
CONTINUE READINGOpening remarks of Walt Lukken, President and CEO of FIA, at the FIA Expo 2022 conference in Chicago. As prepared for delivery.
CONTINUE READINGFIA has written a letter to the US Commodity Futures Trading Commission requesting codification of no-action relief initially set forth in CFTC Letter No. 19-17, Advisory and Time-Limited No-Action Relief with Respect to the Treatment of Separate Accounts by Futures Commission Merchants, and subsequently extended in CFTC Letter Nos. 20-28 and 21-29.
CONTINUE READINGFIA’s Financial Management Committee submitted a petition for more flexibility for FCMs to invest customer funds in safe and liquid financial instruments under applicable CFTC rules.
CONTINUE READINGFIA is circulating this notice to inform FIA members that an important new set of template disclosures have been added to the FIA's online documentation library.
CONTINUE READINGWelcome everyone to Boca 2019, the 44th annual gathering of the futures and derivatives industry in south Florida, or as Jeremy Grant, the former FT journalist, termed it, “Best Industry Event—Ever.” Or put another way – Boca means business!
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