CFTC cross-border guidance was not a dodge, says ex-staffer
With CFTC facing new Dodd-Frank lawsuit, former staffer defends agency's guidance – but pans staff letter that expanded its scope
Controversial cross-border guidance issued by the Commodity Futures Trading Commission (CFTC) in July was not an attempt to avoid checks on the agency's power – as a lawsuit filed last week by three industry associations claims – according to a former CFTC staffer, who worked on the text.
In the suit, filed in the US District Court for the District of Columbia by the Institute of International Bankers (IIB), the International Swaps and Derivatives Association and the Securities Industry and
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