More Time Needed on Overseas Swaps, Democratic Lawmakers Say
This article is for subscribers only.
U.S. regulators will inject risk into the derivatives market if they don’t take more time to coordinate Dodd-Frank Act rules with their overseas counterparts, said Democrats in the Senate and House.
The Commodity Futures Trading Commission, facing a July 12 deadline to determine the overseas reach of its rules, should take additional time to coordinate oversight with other regulators, six senators said in a letter yesterday to Treasury Secretary Jacob J. Lew. A similar letter dated today from 35 House lawmakers went to the heads of the CFTC and Securities and Exchange Commission.