SEC and CFTC will align on derivatives rules, Cox tells funds

Ex-SEC head says hedge funds should expect greater harmonisation between regulators

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A former chairman of the US Securities and Exchange Commission (SEC) has said hedge funds should brace for greater harmonisation between the regulatory agencies overseeing derivatives rules.

Christopher Cox, head of the SEC under George W Bush from 2005 to 2009, believes increased alignment between the Commodity Futures Trading Commission (CFTC) and the SEC’s oversight of the over-the-counter swaps markets is one of the only areas of regulatory reform that will progress under the current admini