US regulator prepares to run with derivatives reform
Derivatives reform in the US has kicked off a new era for the CFTC, which will see a significant expansion of its authority under the updated regulatory regime, as Pauline McCallion reports
The Commodity Futures Trading Commission (CFTC) has 360 days from the date of enactment to complete a long list of rules in line with its expanded remit under the Wall Street Reform and Consumer Protection Act, signed by US President Barack Obama on July 21, 2010. Although the overall rulemaking process must be completed in just under a year, some rules will be required sooner – within 90, 180 or 270 days – setting the scene for a busy 12 months for US regulators.
According to CFTC chairman Gary
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