CFTC's Wetjen suggests interim deal on cross-border swap rules

Mark Wetjen, a member of the Commodity Futures Trading Commission, said at the International Derivatives Expo in London that a deal over cross-border swaps-trading rules will not likely be in place by the July 12 deadline, though he was optimistic that an accord could be hammered out within weeks rather than months. In the meantime, Wetjen suggested an interim arrangement and regulatory relief in an effort to help compliance among market participants and provide legal certainty over rules stemming from the Dodd-Frank Act.

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