Giancarlo orders review of CFTC rules

SDR requirements could be simplified, acting chairman tells Risk.net

Chris Giancarlo - CFTC
CFTC acting head Christopher Giancarlo is leading Project Kiss simplicity drive

The incoming chairman of the US Commodity Futures Trading Commission (CFTC) has unveiled a plan to simplify the agency’s reporting and compliance requirements for derivatives users.

Christopher Giancarlo, acting chairman of the CFTC, said the effort – dubbed Project Kiss, which stands for ‘Keep It Simple Stupid’ – will entail “an agency-wide review of CFTC rules, regulations and practices to make them simpler, less burdensome and less costly”.

As part of the strategy, the CFTC will look to eli