CFTC should pull back on margin rule, O'Malia says

09/26/2013 | Reuters

Commodity Futures Trading Commission member Scott O'Malia says the agency should back off a proposal to stop brokers from using excess funds from one client to cover the shortage of another. He says the CFTC has not determined the cost of the rule to futures customers. The collapse of MF Global Holdings and Peregrine Financial Group prompted creation of the proposal.

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