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Old 12-06-2011, 08:03 AM   #1
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Red face CFTC tightens limits on brokerages using customer funds

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The U.S. futures regulator unanimously approved on Monday tighter limits on how brokerage firms can use customer funds, a measure the now-bankrupt MF Global had encouraged the agency to delay.

The Commodity Futures Trading Commission rule prevents brokerage firms, known as futures commission merchants, from conducting "in-house" repurchase transactions and restricts them from investing customer money in foreign sovereign debt.

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Old 12-06-2011, 08:16 AM   #2
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This is complete and utter bullshit. They should NEVER be allowed to use customer money in a manner not designated and agreed by the customer under any circumstances. Period. What part of "That's my money you son of a bitch" don't they get????
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