US CFTC approves new rule to protect swaps customer funds
Washington (Platts)
The US Commodity Futures Trading Commission by a 4-to-1 vote Wednesday approved a final rule on how futures commission merchants protect their customers’ money, the latest in what is expected to be a long line of new rules on how customer funds are handled.
The rule applies only to swaps, not futures, and drew criticism from the CFTC’s two Republican commissioners for doing little to prevent the mammoth loss of customer funds that followed MF Global’s collapse in October. …