CFTC’s Pan: PFMIs not a template for global regulation
US regulator has previously warned EU supervisors not to unpick hard-won equivalence agreement
Globally agreed minimum standards for clearing houses are a useful template, but they are not a sensible basis for agreeing equivalency determinations between different regulatory jurisdictions, a senior US derivatives regulator has said in a recent panel discussion.
Speaking on April 12 at the World Federation of Exchanges’ clearing and derivatives conference in Chicago, Eric Pan, director of the Commodity Futures Trading Commission’s office of international affairs, said regulators should
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