For Release: July 2, 2002
CFTC SETS STAGE FOR SECURITY FUTURES
WASHINGTON, D.C. -- The Commodity Futures Trading Commission (CFTC) today
voted unanimously to approve customer margin rules for single-stock futures
and other final rules related to Security Futures Products.
CFTC Chairman James Newsome, in commenting on today’s vote, said,
“The Commission takes pride in approving this final rule package on
Security Futures Products. Congress instructed us to work jointly with the
SEC, and we have done so. I have said numerous times that it was important
for us to complete this process in a timely manner, but equally important to
make sure that the rules are right and work in the marketplace. I thank
Chairman Pitt and the SEC on working with the CFTC to complete this historic
financial regulatory challenge, and I think we have struck the appropriate
The CFTC also approved today the applicability of CFTC and Securities and
Exchange Commission customer protection, record keeping, reporting, and
bankruptcy rules and the applicability of the Securities Investor Protection
Act of 1970 to accounts holding security futures products.
For further information about the meeting, contact the Commission’s
Office of External Affairs at (202) 418-5080.
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