FIA has filed additional comments opposing application of the U.S. Securities and Exchange Commission’s proposed "safeguarding" rule to FCMs, stating the proposal is "a stark – and unsubstantiated – departure from the Commission’s longstanding position" that the U.S. Commodity Futures Trading Commission segregation rules are sufficient to protect customer assets held by FCMs. The SEC recently re-opened the public comment period on the proposal, which would replace its existing custody rule for qualified custodians, including Futures Commission Merchants (FCMs). Read the most recent FIA comments here: https://lnkd.in/eduaby83
