6 senators urge CFTC to delay cross-border swaps rules

Six Democratic senators -- New York's Charles Schumer and Kirsten Gillibrand, Delaware's Tom Carper, North Carolina's Kay Hagan, North Dakota's Heidi Heitkamp and Colorado's Michael Bennet -- are putting pressure on Commodity Futures Trading Commission Chairman Gary Gensler to take more time before implementing cross-border swaps rules. Forging ahead without coordinating with other regulators, domestic and foreign, would add undue risk to the derivatives market, the senators wrote in a letter to Treasury Secretary Jack Lew.

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