CFTC Readies Global Guidance

Proposal on international derivatives oversight won’t require cost analysis.

The U.S. Commodity Futures Trading Commission, already fighting lawsuits challenging the economic basis for two rules, may release a proposal for cross-border derivatives oversight that won’t require analysis of its costs.

The CFTC is preparing so-called interpretive guidance on the international reach of Dodd-Frank Act rules that may be proposed at a June 21 meeting, according to two people who requested anonymity because the schedule isn’t public.

‘Stark Reminder’

The losses are “a stark reminder of how swaps traded overseas can quickly reverberate with losses coming back into the United States,” he said in a June 7 speech in New York.

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