The proposed amendments would broaden the language in the Commission’s regulations applicable to electronic filings of financial reports to clarify that, to the extent a futures commission merchant (‘‘FCM’’) submits a Form 1–FR to the Commission electronically, it may do so using any user authentication procedures established or approved by the Commission.
The changes would:
• enable internet-based filing of FCM financial reports using user authentication and password procedures in anticipation of expected changes to the WinJammer™ software application;
• expand the types of filings that FCMs and IBs may submit electronically to include required “early warning” notices and certain other notices and filings;
• provide for less prescriptive, but more immediate, documentation to be filed regarding a firm’s undercapitalized condition; and
• expressly require that an income statement be included in the periodic unaudited financial reports of FCMs and IBs.