Futures Commission Merchant Regulation - Hearings & Testimony

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Dodd-Frank Timeline, Investment of Customer Funds
Final Rule Issue Effective Date Compliance Deadline
December 19, 2011 February 17, 2012 June 18, 2012
Dodd-Frank Timeline, Conflicts of Interest for Swap Entities, FCMs, IBs
Final Rule Issue Effective Date Compliance Date
April 3, 2012 August 3, 2012 October 12, 2012
Dodd-Frank Timeline, Required Compliance Policies
Final Rule Issue Effective Date Compliance Date, Non-Covered Firms Compliance Date, Covered Firms
April 3, 2012 June 4, 2012 September 30, 2012 March 31, 2013
Dodd-Frank Timeline, Protection of Cleared Swaps Customer Contracts and Collateral, Commodity Broker Bankruptcy Provisions
Final Rule Issue Effective Date Compliance Date
February 7, 2012 April 9, 2012 November 13, 2012

Hearings and testimony addressing rules affecting futures commission merchants.

CFTC Public Roundtable on Protection of Cleared Swaps Customer Collateral - June 3, 2011

On June 3, 2011, the CFTC staff held a roundtable with market participants to discuss the design and implementation of various models under consideration by the commission to protect customer collateral in the event of a broker bankruptcy:

  • Complete Legal Segregation;
  • Legal Segregation with Recourse;
  • The "Futures Model;" and
  • Allowing entities to choose among the above options.

Participants in the roundtable:

  • Dan Maguire of LCH
  • Chris Edmonds of ICE
  • Kim Taylor of CME
  • Oliver Frankel of Goldman, Sachs & Co.
  • Thanassis Diplas of Deutsche Bank
  • Raymond Kahn of Barclays Capital
  • Kevin Foley of Katten Muchin Rosenman LLP
  • John Nicholas of Newedge USA, LLC
  • Richard Prager of Blackrock
  • Joanne Medero of Blackrock
  • Supurna VedBrat of Blackrock
  • John MacFarlane of Tudor
  • Rupert Cox of Brevan Howard
  • Christine Ayotte-Brennan of Fidelity
  • Nevis Bregasi of MFS Investment Management
  • William C. Thum of The Vanguard Group, Inc.
  • Mark Szycher of the GM Pension Plan
  • James Harshaw of the GM Pension Plan
  • Steven Winter of State Street
  • Alessandro Cocco of J.P. Morgan Futures Inc.
  • Edith O’Brien of MF Global Inc.

Transcript and videos of the event are embedded below.


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