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CFTC could overhaul cross-border derivatives approach

Joe Mont | October 5, 2018

An ongoing challenge for securities and banking regulators—especially for the Commodity Futures Trading Commission in its post-Dodd-Frank rulemaking—is how to best comport with international regimes that may not mesh well with domestic derivatives rules.

CFTC Chairman J. Christopher Giancarlo has frequently addressed the topic in the past, but perhaps never as comprehensively as he does in a newly released white paper he authored, “Cross-Border Swaps Regulation Version 2.0: A Risk-Based Approach With Deference to Comparable Non-U.S. Regulation.”

Based on the principles he suggests in the white paper, Giancarlo intends to direct the CFTC staff to put forth new rule proposals to address a range of cross-border issues in swaps reform.

 “I have been a constant supporter of the swaps market reforms passed by the U.S. Congress in Title VII of the Dodd-Frank Act and the...

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