CFTC Proposal Regarding Residual Interest Deadline for FCMs (Fed. Reg.)

The CFTC-proposed amendments to the Residual Interest Deadline in CFTC Rule 1.22 ("Use of Futures Customer Funds Restricted") was published in the Federal Register.

The amendment would remove the December 31, 2018 termination date from the phased-in compliance schedule for futures commission merchants ("FCMs") and provide assurance that the Residual Interest Deadline would be revised only through a separate CFTC rulemaking.

Comments on the proposal must be submitted by January 13, 2015.

See: 79 FR 68148; Fact Sheet; Q&A.
Related news: CFTC Approves Rule Proposals and Product Interpretation (with Delta Strategy Group Summary and Lofchie Comment) (November 3, 2014).