For Release: October 29, 2001
CFTC and SEC Extend Comment Periods for Joint Rules Relating to Margin Requirements and Treatment of Customer Funds for Security Futures Products to December 5, 2001
Washington, D.C. – The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) today announced a 30-day extension of the public comment periods for two proposed rulemakings relating to the implementation of provisions of the Commodity Futures Modernization Act of 2000 (CFMA), see CFTC Release #4571-01. The CFMA lifted the 19-year ban on the trading in the U.S. of futures based on single stocks and narrow-based stock indices.
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 those that relate 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. Copies of the proposed rules, as well as the order extending the comment periods, are available on the websites of the CFTC and the SEC, at www.cftc.gov and www.sec.gov, respectively.