News & Media

Security Futures Two Years After the CFMA: An Assessment, Futures & Derivatives Law Report, Vol 23, No. 2

The Commodities Futures Modernization Act of 2002 (“CFMA”) established for the first time in the United States a regulatory scheme to permit trading of futures on individual equities and narrow-based equity indices. This article discusses each of the major areas of CFMA involving security futures and comment on the efficiency of the regulation.  

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