Sec. 105. Futures commission merchant compliance

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Section 4d(a) of the Commodity Exchange Act ( 7 U.S.C. 6d(a) ) is amended— by redesignating paragraphs

(1)and

(2)as subparagraphs

(A)and

(B)and by moving the margins of such subparagraphs two ems to the right; by inserting

(1)before It shall be unlawful ; and by adding at the end the following new paragraph: Any rules or regulations requiring a futures commission merchant to maintain a residual interest in accounts held for the benefit of customers in amounts at least sufficient to exceed the sum of all uncollected margin deficits of such customers shall provide that a futures commission merchant shall meet its residual interest requirement as of the end of each business day calculated as of the close of business on the previous business day. . Section 4d(h) of the Commodity Exchange Act ( 7 U.S.C. 6d(h) ) is amended by striking Notwithstanding subsection (a)(2) and inserting Notwithstanding subsection (a)(1)(B) .

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U.S. Code

Dealing by unregistered futures commission merchants or introducing brokers prohibited; duties in handling customer receipts; conflict-of-interest systems and procedures; Chief Compliance Officer; rules to avoid duplicative regulations; swap requirements; portfolio margining accounts
§ 6d

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Sec. 105

Futures commission merchant compliance

U.S.C.§ 6d

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