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Rating:Johnson and Fink Don't See Eye to Eye Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 04, 2012

Johnson and Fink Don't See Eye to Eye

News summary by MFWire's editors

Fidelity Investments and BlackRock are on opposite sides of a collateral rule proposed by the U.S. Commodity Futures Trading Commission. The two firms were among roughly 40 companies that submitted comments on the "complete legal segregation" proposal CFTC made as part of the Dodd-Frank Act.

Bloomberg goes into far more details for those mutual fund industry insiders that want to know more.

It also excerpts a December 8 letter to the commission by Fidelity senior vice president and general counsel Scott C. Goebel. He wrote that: "the prolonged delay in determining both the amount and location of missing customer funds in the wake of MF Global's collapse highlights the need for stringent measures." Fidelity requests a "full physical segregation" for collateral put up for swap trades. 

Edited by: HFD

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