Reporting Requirements for Futures Commission Merchants and Introducing Brokers

The Securities Industry Association (SIA) provides comments to the Commodity Futures Trading Commission (CFTC) on financial reporting cycle and debt-equity ratio requirements for futures commission merchants (FCMs) and introducing brokers.  The proposed amendments would conform the CFTC’s minimum financial and related reporting requirements with comparable requirements imposed on broker-dealers by the Securities and Exchange Commission (SEC).  While SIA supports several of the proposed rules, they believe that some of the proposals should be deferred or modified.