OpRisk Europe: CFTC must extend cross-border deadline, O'Malia says

CFTC commissioner warns lack of clear rules is "a major problem, nearly a crisis"

Scott O'Malia
Scott O'Malia

Speaking at the OpRisk Europe conference in London today, Scott O'Malia, one of five commissioners on the US Commodity Futures Trading Commission (CFTC), said it would be "unacceptable" to let the relief period for the cross-border swap rules mandated under the Dodd-Frank Act expire on schedule next month.

The CFTC gave temporary relief from the rules until July 12, but O'Malia believes that planned guidance for swap dealers on how to comply will not be ready by that deadline.

"I doubt the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here