Supplemental FOCUS Filing Requirement Applicable to Certain Joint Broker-Dealers/Futures Commission Merchants

Posted on October 8, 2010 by Daren R. Domina

Co-authored by Natalya S. Zelensky

Financial Industry Regulatory Authority member firms that are futures commission merchants and clear over-the-counter (OTC) derivatives for customers through Chicago Mercantile Exchange Inc. (CME) must soon begin filing a new statement pertaining to such OTC derivatives with FINRA as part of their monthly Financial and Operational Combined Uniform Single (FOCUS) Report. This requirement arises from recent amendments by CME to its financial reporting rules and forms and by National Futures Association to its financial requirement rules. The new statement—the Statement of Sequestration Requirements and Funds in Cleared OTC Derivatives Sequestered Accounts—is due to FINRA beginning with the monthly FOCUS Report that is due on November 23 (covering the October 2010 reporting period).

Click here to read FINRA Regulatory Notice 10-46.

Tags:
Trackbacks (0) Links to blogs that reference this article Trackback URL
http://www.corporatefinancialweeklydigest.com/admin/trackback/226065
Comments (0) Read through and enter the discussion with the form at the end
Post A Comment / Question Use this form to add a comment to this entry.







Remember personal info?
Send To A Friend Use this form to send this entry to a friend via email.