The Commodity Futures Trading Commission on Thursday voted 3-2 to approve a rule under the Dodd-Frank Act that cedes the CFTC’s regulation of non-U.S. market participants in cross-border derivatives to other countries. The rule will exempt swap dealers (SD) and major swap participants (MSP) already registered with foreign regulators from also having to register with the CFTC under provisions of the Commodity Exchange Act (CEA).
