CFTC Plans Vote on ‘MF Rule’ to Restrict Use of Client Funds
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The U.S. Commodity Futures Trading Commission may vote Dec. 5 to restrict how derivatives brokers invest client funds, a measure that gained urgency after $600 million went missing in MF Global Holdings Ltd.’s collapse.
CFTC Chairman Gary Gensler said today during a speech in Chicago that he plans to set a vote on the rule, first proposed in October 2010. It would govern how client assets may be invested in money-market funds as well as limit investments in foreign sovereign debt and internal repurchasing agreements.