Commodity Futures Trading Commission (CFTC) has said it is
nearing the completion of its reauthorisation process and last
week appeared poised to address FX regulatory oversight,
portfolio margining and broad-based index guidelines.
Walt Lukken, CFTC commissioner, told FO Week at
China Financial Derivatives Forum in Shanghai that the
president's working group (PWG) should have its recommendations
to Congress in the next several weeks.
PWG, which is chaired by the secretary of the Treasury and
includes the leaders of Federal Reserve Bank, Securities and
Exchange Commission (SEC) and CFTC, should address new legal
language to police FX trading firms, portfolio margining for
single stock futures (SSFs) and equity options and new
guidelines for non-US broad-based indices. All of these issues
were considered tweaks to the 2000 commodity futures
modernisation act (CFMA).
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