7/9/2013

Gary Gensler, chairman of the Commodity Futures Trading Commission, is changing his mind about implementation of cross-border derivatives rules and is proposing a partial delay, sources say. Gensler, who previously rejected postponement, reportedly is promoting a compromise that would have some provisions implemented almost immediately, while others would be delayed until year-end. The compromise, which Gensler reportedly is negotiating with European authorities, would also exempt foreign banks from some of the CFTC's toughest rules.

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