CFTC Needs 6-Month Delay in Overseas Rules, Chilton Says
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The main U.S. derivatives regulator came under pressure to limit the cross-border impact of new swaps rules and delay them for six months from overseas regulators as well as Democratic and Republican members of the Commodity Futures Trading Commission.
The Washington-based agency should provide relief from compliance with Dodd-Frank Act rules while U.S. and overseas regulators discuss how to limit oversight gaps, Bart Chilton, one of three Democrats at the CFTC, and Jill E. Sommers, one of two Republicans, told a House Agriculture Committee hearing on the scope of the rules.