Data / Federal rules / 2024-04107
Regulations To Address Margin Adequacy and To Account for the Treatment of Separate Accounts by Futures Commission Merchants
The Commodity Futures Trading Commission published this proposed rule in the Federal Register on March 1, 2024. Comments closed on April 22, 2024.
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What the agency says
On April 14, 2023, the Commodity Futures Trading Commission (Commission or CFTC) published a notice of proposed rulemaking (First Proposal) that proposed to amend the derivatives clearing organization (DCO) risk management regulations adopted under the Commodity Exchange Act (CEA) to permit futures commission merchants (FCMs) that are clearing members of DCOs (clearing FCMs), subject to specified requirements, to treat separate accounts of a single customer as accounts of separate legal entities for purposes of certain Commission regulations. In light of comments received supporting direct application of separate account treatment requirements to FCMs in the Commission's regulations, the Commission has determined to withdraw the First Proposal. The Commission now proposes regulations to require an FCM to ensure that a customer does not withdraw funds from its account with the FCM if the balance in such account after such withdrawal would be insufficient to meet the customer's initial margin requirements, and relatedly, to permit an FCM, in certain circumstances and subject to certain conditions, to treat the separate accounts of a single customer as accounts of separate entities for purposes of certain Commission regulations (Second Proposal). The proposed amendments would establish the conditions under which an FCM may engage in such separate account treatment.
Key facts
- Document number
- 2024-04107
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking; withdrawal
- Agency
- Commodity Futures Trading Commission
- Published
- March 1, 2024
- Comments due
- April 22, 2024
- Dates
- Comments must be received on or before April 22, 2024.
- Regulation ID (RIN)
- 3038-AF21
- Code of Federal Regulations
- 17 CFR 1; 17 CFR 22; 17 CFR 30; 17 CFR 39
- Topics
- Brokers; Commodity futures; Consumer protection; Reporting and recordkeeping requirements; Swaps
- Pages
- 52
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Everything from the Commodity Futures Trading Commission · Rules on brokers · Rules on commodity futures · Rules on consumer protection · Published in March 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.