CFTC hints at new pragmatic approach to substituted compliance

Commission may not insist on full application of its rules in all cases

Mark Wetjen
Mark Wetjen, CFTC

In an interview with at the Futures Industry Association conference in Singapore in December, Commodity Futures Trading Commissioner, Mark Wetjen, stressed the importance of encouraging harmonisation among global regulations.

Consistency of regulations has been a recurring theme in post-crisis reforms as different countries try to assert their own governance and supervision structure on other jurisdictions, making substituted compliance more a theoretical way forward than a genuine

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