Wall Street won a delay in a controversial U.S. derivativespolicy that extends the overseas reach of Dodd-Frank Act tradingregulations.
The Commodity Futures Trading Commission (CFTC) will postpone enforcing a provision applying the rules totrades structured in the U.S. that banks then book in overseasaffiliates, according to a notice posted on its website Friday. Theagency granted the delay until as late as Sept. 30, 2015.
The policy, first devised in 2013, extended the agency'soversight and drew opposition from lobbying groups representingGoldman Sachs Group Inc., JPMorgan Chase & Co., and DeutscheBank AG, as well as overseas regulators. The groups unsuccessfully sued the CFTC to try to overturn theregulation.
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