The US Commodity Futures Trading Commission is proposing to
move toward a risk-based approach to conducting audits and
developing an appropriate oversight framework for futures
clearinghouses, the regulator's chairman Jim Newsome told the
FIA/FOA conference last week.
"I believe that moving from a strictly compliance-based
approach to a risk-based approach can better focus the
resources of the Commission and the self-regulatory
organizations for maximum effectiveness," he said. The
commission recently initiated the first such examinations and
while the process still needs work, it appears to be on the
right track, he added.
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