SIA and FIA Submit Comments to the Federal Reserve on Credit by Brokers and Dealers and Security Futures
Published on:
January 10, 2003
The Securities Industry Association (SIA)* and the Futures Industry Association (FIA) provide comments to theBoard of Governors of the Federal Rserve System (Federal Reserve)on a proposal relating to credit by brokers and dealers and security futures. SIA comments on the Federal Reserve’sproposed amendments to Regulation T, the need to harmonize the treatment of stock futures and joint margin rules. SIA suggests clarifying stock futures carried in future accounts, applying the special memorandum account provisions to stock futures, and calculating margin excess and margin efficiency.
*SIFMA is the product ofa merger between the Securities Industry Association and The Bond Market Association (TBMA) in 2006.