3/23/2011

Gary Gensler, chairman of the Commodity Futures Trading Commission, said effective oversight of the derivatives market requires the cooperation of global regulators. "Effective reform cannot be accomplished by one nation alone," Gensler said in a speech to the European Parliament. He noted that regulators in the U.S. and Europe oversee most of the swaps market. Gensler said they need to "find general consensus" on regulations for derivatives.

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