Securities and Exchange Commission Chairman Elisse Walter wants domestic regulators to rely on international rules for cross-border swaps when they are equivalent, while preserving U.S. regulators' right to impose their rules when no comparable ones exist. "The domestic regulator would continue to have the ability to apply certain key policy requirements of local law when foreign law does not impose comparable requirements or provide comparable protections," Walter said.

Full Story:
Reuters, Bloomberg

Related Summaries