Lawmakers call for CFTC to act on cross-border rules

12/20/2012 | Reuters · Financial Times (tiered subscription model)

U.S. lawmakers say the Commodity Futures Trading Commission should decide soon how its rules will apply overseas. "We are very concerned that a lack of coordination between both foreign and domestic regulators could soon lead to a disruption of the derivatives markets," 14 House members wrote in a letter to the agency. The undecided cross-border rules are in addition to as-yet-unwritten regulations for swaps-trading platforms and safety buffers for uncleared swaps.

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