(a) Regulations respecting commodity broker debtorsNotwithstanding title 11, the Commission may provide, with respect to a commodity broker that is a debtor under chapter 7 of title 11, by rule or regulation—
(2)
that certain cash, securities, other property, or
commodity contracts are to be specifically identifiable to a particular
customer in a specific capacity;
(3)
the method by which the business of such
commodity broker is to be conducted or liquidated after the date of the filing of the petition under such chapter, including the payment and allocation of margin with respect to
commodity contracts not specifically identifiable to a particular
customer pending their orderly liquidation;
(c) Portfolio margining accounts
The Commission shall exercise its authority to ensure that securities held in a portfolio margining account carried as a futures account are customer property and the owners of those accounts are customers for the purposes of subchapter IV of chapter 7 of title 11.
(Sept. 21, 1922, ch. 369, § 20, formerly § 19, as added
Pub. L. 95–598, title III, § 302,
Nov. 6, 1978,
92 Stat. 2673; renumbered and amended
Pub. L. 97–222, § 20,
July 27, 1982,
96 Stat. 241;
Pub. L. 111–203, title VII, § 713(c),
July 21, 2010,
124 Stat. 1647.)
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203 effective on the later of 360 days after July 21, 2010, or, to the extent a provision of subtitle A (§§ 711–754) of title VII of Pub. L. 111–203 requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see section 754 of Pub. L. 111–203, set out as a note under section 1a of this title.
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