FCMs welcome CFTC margin rule ring-fencing clarification
Final rule on separate accounts replicates no-action relief as Republicans strip out gold plate
A controversy lasting more than five years over the ring-fencing of separate margin accounts belonging to individual end-investors at US clearing houses is now over, as Republican lawmakers begin to bend the US derivatives regulator to their will. The final rules will ensure investors don’t face the threat of being closed out if they miss margin calls due to circumstances beyond their control.
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