Chilton floats compromise on cross-border rules

06/14/2013 | New York Times (tiered subscription model), The

Commodity Futures Trading Commission member Bart Chilton, a Democrat, is hoping to save a controversial overhaul of international banking regulations with a compromise that has the agency issuing its guidance for new cross-border trading rules before the mid-July deadline while giving foreign affiliates of U.S. banks a longer period to comply. The deadline has drawn criticism from Republican members who argue it should be pushed back to give foreign regulators time to make their own rules.

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New York Times (tiered subscription model), The

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