Monday, December 5, 2011
CFTC Passes New Rule Preventing Conmingling of Client & Firm Funds
Great, thanks for that.
Nothing like passing a law AFTER $3 Billion + in MF Global client funds were stolen from segregated accounts.
(Reuters) - The U.S. futures regulator approved on Monday a rule that puts tighter limits on how brokerage firms can use customer funds, a measure that the now-bankrupt MF Global had encouraged the agency to delay.
The measure was finalized by the Commodity Futures Trading Commission by a 5-0 vote. The rule was initially proposed by the CFTC in October 2010.
Posted by The Doc at 12:12 PM