CFTC’s Stewart blames EU for equivalence failure

Risk Derivatives Clearing: EU stance on equivalence is "unfortunate", CFTC lawyer says

US regulator blames EU for equivalence debacle

The US Commodity Futures Trading Commission (CFTC) has done "more than enough" to secure an equivalence determination for US clearing houses from the European Union, a senior lawyer at the agency has claimed.

Lawranne Stewart, special counsel to CFTC chairman Timothy Massad, placed the blame for the ongoing equivalence debacle squarely at the feet of the EU.

"The process on equivalency has been driven by the Europeans," she said. "We've been trying to give them what they need to make that determ