CFTC-EC ‘stricter-rule applies’ cross-border agreement worries market

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An agreement between European and US supervisors on how to co-ordinate cross-border derivatives regulation has been received cautiously by legal experts, who warn the inclusion of a ‘stricter-rule-applies' approach could still end up extending the Dodd-Frank Act beyond the US. The European Commission (EC) and Commodity Futures Trading Commission (CFTC) announced their cross-border approach yesterday, and agreed that regulators should defer to their overseas counterparts when the foreign