CFTC to Propose Foreign Swap Reach Rules in 2012, O’Malia Says
By Silla Brush
Published November 29 2011 Bloomberg
The U.S. Commodity Futures Trading Commission next year will propose regulations that govern the international reach of Dodd-Frank Act rules for the $708 trillion swaps market, said Scott O’Malia, a commission member. The over-the-counter “derivatives industry is global and defining where United States jurisdiction starts and ends will involve considerable debate,” O’Malia, a Republican, said in a speech prepared for a Futures Industry Association conference held in Singapore.
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