CFTC Cancels Customer Fund Protection Vote

The CFTC has cancelled an open meeting scheduled for Wednesday, September 12, after Commission Chairman Gary Gensler injured himself over the weekend.

The meeting had been called to publicly vote on new rules intended to safeguard customer funds held by futures commission merchants (FCMs), confidence in whom has been badly shaken by a series of scandals involving the disappearance of customer funds. The rules would require FCMs to provide regulators with access to segregated customer account balances. According to CFTC spokesman Steven Adamske, “the subject matters will be handled” in a non-public vote.

Gensler was injured when he fell at his home and cracked several ribs. He was hospitalized as a precaution, Adamske said, and is expected to return to work soon.

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