Massad and Giancarlo feared CFTC split claims over Sef white paper

CFTC chairman and commissioner discussed withholding Giancarlo’s calls for rules reboot

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Timothy Massad, CFTC

The chairman of the Commodity Futures Trading Commission (CFTC), Timothy Massad, and one of its commissioners, Christopher Giancarlo, considered not publishing the latter's recent 89-page white paper on swaps reform, fearing it would result in the agency's leadership being portrayed as divided. The paper, published on January 29, calls for a radical overhaul of the CFTC's year-old regime requiring some swaps to be traded on swap execution facilities (Sefs).

According to sources close to the

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