Turning Back Clock on Swaps Rules

Re-proposing derivatives regs would give market more time to review them.

Trade groups representing the biggest U.S. financial companies said regulators should re-propose derivatives rules required by the Dodd-Frank Act to give banks, swap dealers and asset managers more time to review them.

Re-proposing rules would delay them by “months, not years, and the costs of any such delay will be far outweighed by the benefits,” groups including the Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association wrote to the Securities and Exchange Commission and the Commodity Futures Trading Commission.

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