6/27/2013

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 -- have told Commodity Futures Trading Commission Chairman Gary Gensler that more time is needed before cross-border swaps rules go into force. 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.

Related Summaries