federal_register: 00-21904
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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| document_number | title | type | abstract | publication_date | pub_year | pub_month | html_url | pdf_url | agency_names | agency_ids | excerpts |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 00-21904 | Minimum Financial Requirements for Futures Commission Merchants and Introducing Brokers; Amendment to the Capital Charge on Unsecured Receivables Due From Foreign Brokers | Proposed Rule | The Commodity Futures Trading Commission ("Commission") is proposing to amend Rule 1.17(c)(5)(xiii) which requires a futures commission merchant ("FCM") or an independent introducing broker ("IBI"), when computing its adjusted net capital, to take a capital charge for certain unsecured receivables due from foreign brokers.\1\ The capital charge is equal to five percent of the unsecured receivable balance. In computing the capital charge, however, the FCM or IBI may exclude that portion of the unsecured receivable that represents the amount required to be on deposit to maintain futures and option positions (i.e., margin or performance bond requirements) on a foreign board of trade provided that certain conditions are met. The foreign broker must have received confirmation of "comparability relief" pursuant to Rule 30.10 from the Commission and the margin deposit must be held by the foreign broker itself, by another foreign broker granted Rule 30.10 "comparability relief," or by a depository in the same jurisdiction as either foreign broker that would qualify as a depository for funds under Rule 30.7. In addition, to be exempt from the capital charge, customer funds must be held by the foreign broker in compliance with any conditions imposed by the applicable Rule 30.10 order. --------------------------------------------------------------------------- | 2000-08-28 | 2000 | 8 | https://www.federalregister.gov/documents/2000/08/28/00-21904/minimum-financial-requirements-for-futures-commission-merchants-and-introducing-brokers-amendment-to | https://www.govinfo.gov/content/pkg/FR-2000-08-28/pdf/00-21904.pdf | Commodity Futures Trading Commission | 77 | The Commodity Futures Trading Commission ("Commission") is proposing to amend Rule 1.17(c)(5)(xiii) which requires a futures commission merchant ("FCM") or an independent introducing broker ("IBI"), when computing its adjusted net capital, to take a... |