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期货和衍生品行业监管动态

final rule amending the CFTC’s regulations that govern how futures commission

merchants and derivatives clearing organizations safeguard and invest customer funds

held for the benefit of customers engaging in futures, foreign futures, and cleared

swaps transactions.

The amendments revise the list of permitted investments in CFTC Regulation

1.25 and make other related changes and specifications. The amendments also

eliminate the CFTC requirement that an FCM deposit customer funds with

depositories that provide the CFTC with read-only electronic access to such accounts.

The compliance date for the revisions is 30 days after the final rule is published

in the Federal Register, except for the revisions to the Segregation Investment Detail

Reports (SIDR) specified in CFTC Regulations 1.32, 22.2(g)(5), and 30.7(l)(5), and

the revisions to the customer risk disclosure statement required under CFTC

Regulation 1.55. The compliance date for the revisions to the SIDR and the risk

disclosure statement is March 31, 2025.

https://www.cftc.gov/PressRoom/PressReleases/9024-24

11. 美国证券交易委员会修订经纪交易商客户保护规则（2024 年 12 月 20 日）

美国证券交易委员会（SEC）今天通过了对规则第 15c3-3 条（即客户保护

规则）的修订，要求某些经纪商交易将计算其欠客户及其他经纪交易商【即经纪

交易商自营账户（ Proprietary Accounts of Broker-Dealers, PAB）账户持有人】净

现金金额的频率从每周增加到每日。SEC 还修订了规则第 15c3-3 条和第 15c3-1

条（即经纪交易商净资本规则），允许那些每日进行客户准备金计算的经纪交易

商通过将客户相关应收款项或“总借项（aggregate debit items）”的计算比例从

3%降低至 2%，从而减少客户准备金银行账户中所需的 3%“缓冲”比例。

SEC 主席 Gary Gensler 表示：“自 1972 年通过规则第 15c3-3 条（即客户保

护规则）以来，我们的市场已经发生了巨大的变化。我很支持这一修订，因为它

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