CFTC is divided over cross-border derivatives rules

There is growing dissension at the Commodity Futures Trading Commission over how to apply its derivatives rules to cross-border transactions. Three of the five commissioners are questioning the timeline set by the chairman for adopting final guidelines on this issue. "We should not allow ourselves to careen toward an arbitrary and self-imposed deadline, especially when that deadline does not coincide with the implementation of other comparable regimes," said Mark Wetjen, one of the three commissioners.

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