Global Regulators in Talks with Industry

CFTC and Hong Kong securities regulators are said to be meeting with financial industry representatives to discuss cross-border derivatives rules.

Global regulators are holding closed-door meetings with financial industry representatives to discuss derivatives rules that banks have sought to curb, according to three people with knowledge of the matter.

Regulators including the U.S. Commodity Futures Trading Commission (CFTC) and the Hong Kong Securities and Futures Commission met in Washington yesterday to discuss the cross-border reach of derivatives rules, according to the people, who asked not to be named because the meeting was private. The meeting, convened by the International Organization of Securities Commissions (Iosco), included representatives of the world’s largest swap dealers as well as consumer advocates.

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