UPDATE 1-Insurance against failed futures brokers would be costly -study

An insurance program to protect U.S. futures traders from financial losses when a brokerage collapses would come at a high cost, according to a study released on Friday, which was quickly criticized by a top U.S. regulator. Bart Chilton, a member of the U.S. Commodity Futures Trading Commission, cast doubt on the findings because the study was funded by futures-industry groups supported by firms that have opposed insurance programs. More on Reuters here.

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