CFTC sent special calls by mistake, Giancarlo says
Hundreds of special call letters were sent to end-users of over-the-counter derivatives in error, CFTC commissioner Chris Giancarlo says
Last year, the US Commodity Futures Trading Commmission (CFTC) sent hundreds of letters to companies threatening them with legal action if they did not quickly submit a detailed form, only to retract its demands in recent months after the regulator realised it had made a mistake, according CFTC commissioner Chris Giancarlo.
Giancarlo made the surprise revelation about the so-called special call letters during an April 14 hearing of a key subcommittee of the House Committee on Agriculture, which
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