CFTC-SEC cross-border split could 'tarnish' US swap markets

Capitol Hill

The heads of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) endured a grilling on Capitol Hill yesterday over their divergent approaches to the cross-border application of the Dodd-Frank Act.

SEC chair Mary Jo White and CFTC chairman Gary Gensler both sought to put a gloss on their respective agencies' progress in implementing Dodd-Frank, but the ranking Republican member on the committee instead honed in on the lack of harmonisation between the

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