Massad and Giancarlo feared CFTC split claims over Sef white paper

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

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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