[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]



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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.

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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.
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    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