Michael Dunn, a member of the Commodity Futures Trading Commission from 2004 to 2011, says many firms that hedge their risks by using swap contracts are not ready for new regulations. "I'm appalled at the lack of readiness," Dunn said at FIA's annual conference. "... These are things that [swap users] need to be thinking about now, rather than waiting until everything is finalized and getting caught in a crush."

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