CFTC's proposed cross-border trade rule faces opposition

Banks and foreign regulators are voicing opposition to a proposal from the Commodity Futures Trading Commission that would require foreign financial institutions and other firms to disclose information on trades that involve U.S. entities. Experts say the cross-border rules likely will conflict with foreign regulations, could push trading away from U.S. financial firms and will likely drive up costs. "We should all care, because that cost will have to be passed on, in the form of higher prices for products sold to consumers or a lower return for investors," said SIFMA's Kenneth E. Bentsen Jr.

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