Futures Trading Reform Bill Clears House: A...
From Times Staff and Wire Reports
Futures Trading Reform Bill Clears House: A bill to reform trading practices in the futures pits while giving federal regulators more clout to discipline industry wrongdoers easily passed the House on a vote of 395-27. The Commodity Futures Improvements Act of 1991 would curb the practice of dual trading, in which futures brokers trade for themselves as well as their customers. The measure also requires futures exchanges to set up mechanisms, known as audit trails, that can retrace an individual trade to within one minute of its completion. The bill also beefs up the Commodity Futures Trading Commission’s enforcement authority.
