[Federal Register Volume 60, Number 28 (Friday, February 10, 1995)] [Proposed Rules] [Page 7925] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 95-3362] ======================================================================= ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 1 Early Warning Reporting Requirements for Futures Commission Merchants AGENCY: Commodity Futures Trading Commission. ACTION: Extension of comment period. ----------------------------------------------------------------------- SUMMARY: On December 28, 1994, the Commodity Futures Trading Commission (Commission) published in the Federal Register a request for public comment on proposed rules to amend the early warning reporting requirements for futures commission merchants (FCMs) set forth in Commission Rule 1.12. The original comment period expired on January 27, 1995. 59 FR 66822. The proposed rules would require an FCM to report in accordance with Commission Rule 1.12 whenever: There is a reduction in adjusted net capital in excess of 20 percent of the amount reported in the last financial report filed with the Commission;\1\ a margin call that exceeds the FCM's excess adjusted net capital remains unanswered by the close of business on the day following the issuance of the call; or the FCM's excess adjusted net capital is less than six percent of the maintenance margin required to support proprietary and noncustomer positions carried by the FCM. \1\When the Commission recently adopted rules concerning risk assessment for holding company systems, 59 FR 66674 (Dec. 28, 1994), it added a provision to Rule 1.12 requiring FCMs subject to the risk assessment rules to provide notice of adjusted net capital reductions in excess of 20 percent. The proposal would extend that requirement to all FCMs. --------------------------------------------------------------------------- The Securities Industry Association requested a thirty-day extension of the comment period in order that its Capital Committee may have sufficient opportunity to consider these proposals. In order to ensure that all interested parties have an adequate opportunity to submit meaningful comments, the Commission has determined to extend the comment period for an additional thirty days. DATES: Comments must be received on or before February 27, 1995. ADDRESSES: Comments should be sent to Jean A. Webb, Secretary of the Commission, Commodity Futures Trading Commission, 2033 K Street NW., Washington, DC 20581. FOR FURTHER INFORMATION CONTACT: Paul H. Bjarnason, Jr., Chief Accountant, or Lawrence B. Patent, Associate Chief Counsel, Division of Trading and Markets, Commodity Futures Trading Commission, 2033 K Street, NW. Washington, DC 20581; telephone (202) 254-8955. Issued in Washington, DC on February 6, 1995, by the Commission. Jean A. Webb, Secretary of the Commission. [FR Doc. 95-3362 Filed 2-9-95; 8:45 am] BILLING CODE 6351-01-M