Compliance May 10, 2003

SEC Extends Comment Period for Commodity Futures Act

October 29, 2001 (PLANSPONSOR.com) - The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have approved a 30-day extension of the public comment period for proposed rules about implementing the Commodity Futures Modernization Act of 2000 (CFMA).

Reported by

Camilla Klein

The CFMA lifted the 19-year ban on the US trading of single-stock and narrow-based stock index futures.

The comment periods are extended until December 5, 2001 for the rules proposed jointly by the CFTC and the SEC that would govern the collection of customer margin for security futures.

The public can also comment on the proposed rules relating to the applicability of CFTC and SEC Customer Protection, Recordkeeping, Reporting, and Bankruptcy Rules and the Securities Investor Protection Act of 1970 to Accounts Holding Security Futures Products.

Copies of the proposed rules are available on the Web sites of the CFTC and the SEC .