Release: #4666-02
For Release: July 2, 2002


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 balance.”

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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