November 17, 2011
CFTC back track – O’Malia speech
In light of MF Global, Scott O’Malia has some motherhood and apple pie style suggestions:
- Check the customer accounts contain the money they should:
- Check again, every day:
- Maybe letting intermediaries freely invest customer funds isn’t such a good idea:
First and foremost, we must reconsider the proposal that would limit investments of segregated customer funds.
- Maybe the rules for who can be an intermediary need a second thought:
Pretty fundamental stuff, full speech here: http://www.cftc.gov/PressRoom/SpeechesTestimony/omaliastatement111611
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