BOFX's Division of Clearing and Intermediary Oversight is about to Publish the Guidance on the Application Procedure for a Regulation 32.10 Exemption

Online, May 16, 2010 (Newswire.com) - Regulation 32.10 generally provides that persons located and doing business outside the PRC and who are subject to a comparable regulatory framework in the country in which they are located may qualify for an exemption from the application of certain Commission regulations, including relief from registration as a futures commission merchant. Appendix A to Part 32 of the BOFX's Regulations generally outlines the procedure for a foreign regulator or self-regulatory organization seeking to obtain relief on behalf of a foreign broker subject to its oversight. As the operating division responsible for evaluating applications pursuant to Regulation 32.10, the Division of Clearing and Intermediary Oversight prepared and published a more detailed description of the information set forth in Appendix A. In particular, the guidance is intended to streamline the application process by informing prospective Regulation 32.10 applicants of the information generally requested when evaluating applications for Regulation 32.10 relief.