MF Global Rule

Gary Gensler (Chef der CFTC) dürfte inzwischen die meißtgehasste Person in der US-Derivatebranche sein.
Nachdem die Eigenkapitalanforderungen von FCMs und RFEDs soweit hoch geschraubt wurden, dass nach dem Kehraus nur noch ein paar einigermaßen gesunde Finanzienstleister übrig blieben, ging man in den letzten Monaten vor allem gegen die verbliebenen Gauner vor und drehte den bis dato noch umher streunenden OTC/FX Boilerrooms den Saft ab. Auf den Seiten der NFA und CFTC kann man seitenweise nachlesen, wer für welches Delikt bestraft wurde.

Jetzt geht es weiter: MF Global Rule nennt sich ein neues Gesetz, dass heute verabschiedet wurde und zukünftig die Einlagen der Investoren schützen soll.
Zumindest dient das Gesetzt dazu, dass Kundengelder nicht mehr ohne Weiteres zweckentfremdet werden (dürfen).

Regulator Approves ‘MF Global Rule’

Interessant ist die Geschichte zur MFG-Rule:

MF Global Rule

Federal regulators approved tougher constraints on Wall Street risk-taking on Monday, adopting the “MF Global rule,” named after the collapsed brokerage firm that is believed to have improperly used hundreds of millions of dollars of customer money.

The new rule will limit how the brokerage industry can invest customer money, largely barring firms from using client funds to buy foreign sovereign debt. It also prevents a complex transaction that allowed MF Global, in essence, to borrow money from its own customers.

The Commodity Futures Trading Commission, which voted unanimously to approve the rule, originally planned to finalize it months ago.

But the agency delayed action as a result of strong opposition from Jon S. Corzine, who at the time was chief executive of MF Global. Mr. Corzine resigned on Nov. 4, four days after MF Global filed for bankruptcy protection.

CFTC Charges MF Global Inc., MF Global Holdings Ltd., Former CEO Jon S. Corzine, and Former Employee Edith O’Brien for MF Global’s Unlawful Misuse of Nearly One Billion Dollars of Customer Funds and Related Violations

 

http://www.cftc.gov/PressRoom/PressReleases/pr6626-13

CFTC beschließt neue Regeln für Unternehmen, deren Geschäftsmodell der Handel an Terminbörsen ist.

With the new rules, the C.T.F.C. aims to shine a light on how brokers maintain their clients’ accounts and outlines limitations of when they can move their money around.

Brokers will be subject to tougher auditing standards and will be required to provide daily reports that include details of each separate client account. These reports will be filed electronically. Mr. Gensler said this step was “the right place to be in the 21st century.”

The commission also voted to close a loophole that allowed brokerage firms to use money from client accounts that traded overseas under an exemption called the “alternative calculation.”

The most controversial of the new proposed rules will change how brokers keep collateral and make margin calls to ensure a client default is limited. Brokers, who are required to provide a buffer in client accounts, will be required to make clients pay severaldays earlier.

http://dealbook.nytimes.com/2013/10/30/c-f-t-c-approves-new-rules-for-futures-industry/