July 30, 2010
By Sarah N. Lynch
Trustees handling commodities-brokerage bankruptcies will now be allowed in some cases to continue operating the business so that customers' trading isn't disrupted, federal futures regulators announced Thursday.
The Commodity Futures Trading Commission's new rule, which was proposed late last year, would give the agency discretion to decide when to let a bankruptcy trustee continue buying and selling futures contracts on behalf of customers of the failed brokerage.
Currently, trustees generally aren't allowed to immediately start processing trades for customers when they begin bankruptcy cases…
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Last Updated: August 5, 2010