CFTC agrees to let banks follow foreign swaps rules

07/14/2013 | Reuters · USA Today · Financial Times (tiered subscription model)

The Commodity Futures Trading Commission has voted to permit banks' overseas operations to follow foreign derivatives rules, rather than U.S. rules, as long as the foreign rules are acceptable to the CFTC. However, the agency emphasizes that the ruling does not relieve financial institutions from complying with the Dodd-Frank Act.

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