The National Futures Association, the industry's self-regulatory body, recommended changes to regulations Monday in response to last year's collapse of MF Global Holdings Ltd. that left customers short an estimated $1.6 billion.

NFA worked with exchange operators CME Group Inc. (CME) and InterContinentalExchange Inc. (ICE) on the recommendations, which included more frequent reporting by futures firms and more frequent audits by their industry regulatory body.

"The committee believes that these recommendations will provide regulators with better tools to monitor firms for compliance with segregation and secured requirements and strengthen the industry's customer protection regime," said NFA President Dan Roth.

Some of the recommendations are similar to ones recommended last month by the industry's main trade group, the Futures Industry Association.

The Commodity Futures Trading Commission is considering changes to regulations to better protect customer funds after MF Global's Oct. 31 bankruptcy. The CFTC has already made some changes to the way that customer funds can be invested by futures firms.

 
   -By Jamila Trindle, Dow Jones Newswires; 202-862-6684; jamila.trindle@dowjones.com
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