U.S. Swaps Regulators to Seek Comment on Overseas Reach
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U.S. financial regulators are planning to seek comment on when Dodd-Frank Act rules for the $601 trillion swaps market apply to international transactions or firms conducting business overseas.
The Securities and Exchange Commission plans to propose a rule, while Gary Gensler, chairman of the Commodity Futures Trading Commission, said the agency will publish information about the potential reach of the law and seek response from banks, energy firms and other market participants.