Kevin Foley, a partner in the Financial Services practice, spoke with IFR regarding the comprehensive regulations that the Commodity Futures Trading Commission recently adopted designed to enhance the protection of customer funds held by futures commission merchants. The new rules were effective January 13. Kevin noted that while the futures market structure has functioned smoothly for a long time, failures such as MF Global and Peregrine Financial prompted a reexamination of assumptions and significant changes. He added that “Customers should have much greater protections against misappropriation of funds via these rules, and their implementation should give customers greater confidence in the structure of the futures market.” (“Customer Protection Rules Hit FCMs, January 18–24, 2014)
Chicago
