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Underwriting of Nonregulated Option Puts and Calls Banned
The USDA announced a ban effective January 2 1974 on underwriting or assuming financial responsibility for puts and calls in nonregulated commodities by regulated futures commission merchants. They may act only as brokers to locate buyers or sellers. The move aims to prevent insolvency risks and misuse of customer funds after bankruptcies tied to option settlements.
MENTIONED IN THIS ARTICLE
Regulated Futures Commission
U. S. Department of Agriculture
USDA
Regulated Commission
Alex C. Caldwell
The
Commodity Exchange Authority
Registered Futures Commission
CEA
Caldwell
Futures Commission