US lawmaker backs CFTC on cross-border swaps rules

04/25/2013 | Reuters

The US Commodity Futures Trading Commission shouldn't listen to criticism characterising its stance on cross-border swaps regulation as aggressive, Sen Carl Levin says. "American families and businesses deserve strong protections against the risks posed by derivatives trading, including from cross-border swaps," Levin said. The EU, the UK and Japan have urged the CFTC to rely more on foreign regulators, rather than impose its rules on foreign banks.

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