Futures Industry Association (FIA) released a position paper on self-regulatory organisations (SROs) last week that calls for more independent self-regulatory committees at exchanges and clearinghouses.
The FIA position paper coincides with a Commodity Futures Trading Commission (CFTC) request for comment on its ongoing study of SROs. The 45-day comment period will allow industry participants to weigh in on issues such as board composition, regulatory structures, impact of different business and ownership models, disciplinary committees and transparency of operations.
The SRO function issue...