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Date de publication: 14 mars 2012
Auteur: Y. B.
Noter cette article :

La Commodity Futures Trading Commission a publié un communiqué de presse dans lequel elle annonce qu'elle a mis en cause la société MBF clearing Group pour des défauts de tenue de comptes.

Résumé :

The U.S. Commodity Futures Trading Commission (CFTC) today charged MBF Clearing Corp. (MBF), a registered futures commission merchant (FCM), with violating the Commodity Exchange Act (CEA) and Commission regulations concerning segregation of customer funds and with supervision failures.

When an FCM deposits its customers’ funds in a bank account, the CEA and Commission regulations require that: the FCM title the account as a customer segregation account; the FCM obtain a written acknowledgement that the bank has been informed that the funds in the account belong to the FCM’s customers and indicates that the funds are separately accounted for and held in accord with the segregation provisions of the CEA; and that the funds must be available in one business day.

According to the CFTC’s complaint, MBF, which from September 2008 through March 2010, routinely held between $30 million and $90 million in customer funds in a non-compliant account, violated all of these requirements. Specifically, the complaint charges that MBF held customer funds in an improperly titled non-segregated money market fund account, which did not carry a legal obligation to make the funds available in one business day, and that because these funds were not properly considered as customer segregated funds, MBF had segregated customer fund deficiencies for more than one year. For example, MBF was deficient by more than $15 million as of month-end for June 2009, which MBF failed to report on its required monthly statement of financial condition to the Commission.

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