Segregated Funds

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Reinsurance Newsletter - December 2013: Wisconsin Court of Appeals Affirms Circuit Court Order Enforcing Injunction Against...

In re. Rehab. Of: Segregated Account of Ambac Assur. Corp., No. 2011AP1486, 2013 Wisc. App. LEXIS 896, 2013 WL 5745987 (Wis. Ct. App. Oct. 24, 2013). The Wisconsin Court of Appeals affirmed a circuit court’s order...more

NFA Issues a Notice Regarding Segregated Account Balance Reporting

On June 19, the National Futures Association (NFA) issued a notice to its members regarding the implementation of the second phase of the segregated account balance reporting requirements under Section 4 of the NFA’s...more

NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform [Video]

One of the issues that emerged from the MF Global collapse was the complex and often frustrating US bankruptcy process. In the case of MF Global, futures customers’ claims were lumped in with other creditors. As such, it took...more

Confirmations: NFA and CME’s Financial Match.com [Video]

Watch the Restoring Customer Confidence video series: http://jlne.ws/TJeVtG About this solution: The fraud at Peregrine Financial Group was uncovered in July 2012 by the National Futures Association (NFA) which used an...more

Daily Reports: Tell Us Where The Money Is [Video]

Watch the Restoring Customer Confidence video series: http://jlne.ws/TJeVtG About this solution: In the months and days since MF Global’s collapse and the Peregrine Financial Group’s fraud, some have argued simply for...more

NFA Sets Implementation Deadline for Phase 1 of Customer Segregated Funds Reporting

The National Futures Association (NFA) recently amended Section 4 of its Financial Requirements to require futures commission merchants (FCMs) that hold customer funds to in turn require banks and trust companies holding such...more

Corporate and Financial Weekly Digest - February 1, 2013

In this issue: - SEC Extends Expiration Date for Interim Final Rules Providing Exemptions for Security-Based Swaps - NFA Sets Implementation Deadline for Phase 1 of Customer Segregated Funds Reporting - CFTC to...more

Customer Segregation: Keep It Separate [Video]

Watch the Restoring Customer Confidence video series: http://jlne.ws/TJeVtG About this solution: There has been much talk about protecting customer funds but keeping them in segregated accounts outside of the brokerage...more

Segregated Portfolio Companies

Any Cayman Islands exempted company (the most common Cayman corporate vehicle limited by shares), including those to be established as funds, may be registered as a segregated portfolio company (an SPC). Registration as an...more

CFTC Proposes Rules to Enhance Protections for Customer Funds

The Commodity Futures Trading Commission published proposed rules that are designed to increase protections for customers and customer funds held by futures commission merchants (FCMs) and derivatives clearing organizations...more

Court Ruled For Bank That Forwarded Funds Sought In Seizure By DA's Office

In Miaoulis v. AmegyBank, the Houston First Court of Appeals held that two banks forwarding of funds to a district attorney’s office and their refusal to segregate funds under 59.12 of the Texas Code of Criminal Procedure did...more

CFTC Affords Relief and Guidance in Light of Final Swap Definition’s Effective Date

On October 12, 2012, the Commodity Futures Trading Commission’s (CFTC) and Securities and Exchange Commission’s (SEC) final rules to further define the term “swap” (among other terms) became effective. The effective date of...more

CFTC Guidance on Segregated and Secured Funds

On October 4, the CFTC released guidance to registered futures commissions merchants (FCMs) which identifies a situation whereby FCMs may be inappropriately utilizing an omnibus account with their clearing FCM in which they...more

CFTC Issues Guidance on Segregated and Secured Funds Maintained in a Combined Omnibus Account

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight has issued guidance clarifying that futures commission merchants (FCMs) may not maintain customer segregated funds (i.e.,...more

CFTC Seeks Comments on ICE Clear Europe Petition

On September 11, the CFTC requested public comment on a petition submitted by ICE Clear Europe Limited (ICE Clear Europe). ICE Clear Europe, which is registered with the CFTC as a derivatives clearing organization and with...more

Derivatives Attorney Jim Falvey Discusses the MF Global bankruptcy, the Volcker Rule & Compliance Issues Related to Dodd-Frank [Video]

More video at MarketsWiki.tv. Jim Falvey has been an attorney in the exchange and FCM space for over 15 years. He has served as general counsel of Eurex US and IntercontinentalExchange, as assistant general counsel for CME...more

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