SEC and CFTC Extend Comment Periods for Joint Rules Relating to Margin Requirements and Treatment of Customer Funds for Security Futures Products to December 5, 2001
FOR IMMEDIATE RELEASE
Washington, DC, October 29, 2001 On October 25, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) approved a 30-day extension of the public comment periods for proposed rules relating to the implementation of provisions of the Commodity Futures Modernization Act of 2000 (CFMA). The CFMA lifted the 19-year ban on the trading of single-stock and narrow-based stock index futures in this country.
The comment periods are extended until December 5, 2001 for the rules proposed jointly by the CFTC and the SEC that would govern the collection of customer margin for security futures and the proposed rules relating to the applicability of CFTC and SEC Customer Protection, Recordkeeping, Reporting, and Bankruptcy Rules and the Securities Investor Protection Act of 1970 to Accounts Holding Security Futures Products.