NFA Aims to Bolster Protection for Futures Customers

The National Futures Association’s board of directors has approved rules that would require futures brokerage to provide regulators with view-only online access to customers’ account information. If the Commodity Futures Trading Commission approves the rules, they will apply to all futures commission merchants. Reuters (8/16), Bloomberg (8/16)  src: FIA SmartBrief   The Opinions expressed are the opinions of the author.…...

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The Plan, Stan—Moving Forward on a Futures Insurance Fund

Statement of Commissioner Bart Chilton on the Futures Investor and Customer Protection Act (FICPA) Proposal August 9, 2012 Last November, in the wake of the MF Global debacle, I called for a futures insurance fund. It made no sense to me that banking customers had insurance (up to $250,000) through the Federal Deposit Insurance Corporation (FDIC) and that security customers…...

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Giddens seeks $160 million deal between CME and MF Global unit

James Giddens, the trustee liquidating the broker-dealer unit of MF Global Holdings, has asked Bankruptcy Judge Martin Glenn to approve a deal where CME Group would return $160 million to the division’s estate. Glenn said he will rule later. The settlement deal is backed by the Commodity Futures Trading Commission. » Read Full Article on Reuters   The Opinions expressed…...

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Drought Pattern Appears Well-Established

» Drought Monitor Presentation Omaha (DTN) – What a season the crop year 2012 has turned into. A season which began with bright hopes for good production, which were bolstered by rapid planting progress, has instead turned into a nightmare of disastrously hot and dry conditions. The Drought of 2012 has carved itself a huge niche in history–alongside the droughts…...

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Wake Up Call– Rule 1.71 Effective Date August 3

CFTC Rule 1.71, applies to conflicts of interests within a brokerage operation, among other things. That is to say that the “research” department and the “trading” desks must independently coexist. The genesis of the rule really comes from the securities industry where research departments tout trade recommendations to the brokers who in turn interact with their clients and often suggest…...

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NIBA Chicago Conference Registration Now Open

The NIBA Fall Membership Meeting is scheduled for the afternoon of September 12, 2012 at the UBS Center in Chicago. The Agenda includes: Business Sessions: Weather – the effects of this year’s extreme weather on the markets The Economy – the Federal Reserve Bank of Chicago will share their take on the economic outlook, nationally and locally Assessing the Risks…...

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Register for Kansas City Marketing & Sales Event Now!

The Summer NIBA Meeting, co-sponsored by the Kansas City Board of Trade is scheduled for Thursday, June 21 at the KCBT. Coffee and registration begins at 1:15pm. Business sessions begin at 2pm. A networking/cocktail reception will follow immediately. Program details are found here, and include 3 great presentations by 4 great speakers – Bryce Anderson | Meteorist for Telvent DTN, Kelly…...

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New SAR Filing Requirements

The Financial Crimes Enforcement Network (FinCEN) recently made some changes to its Suspicious Activity Report (SAR) filing requirements that will likely impact an IB’s AML program. Specifically, beginning July 1, 2012, any financial institution, including an IB, filing a SAR must do so electronically through FinCEN’s BSA E-Filing System. According to FinCEN, E-Filing will enhance the quality of FinCEN’s electronic…...

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An Economic Overview & Outlook: Kansas City and the Nation | Summer Conference Presentation Summary

Kelly Edmiston will present “Economic Conditions in the U.S. and Kansas City Region.” The presentation will begin with a discussion of recent output in the U.S. economy and provide a near-term outlook based on publicly available Federal Reserve projections and a consensus of leading forecasters across the country. The discussion will then turn to a detailed discussion of labor market…...

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The Vanishing FCM…

Opinion piece by Richard Strait | Strait, LLC Over the past 7-10 years the FCM community has contracted exponentially to just a handful of providers. While many reasons for this can be cited, those that stand out are the increased costs of the regulatory compliance and increased capital requirements, coupled with skyrocketing regulatory haircuts levied on that capital and lower…...

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