CFTC's Massad muddies waters in CCP oversight row

Dual registration – not deference – is "proper model" for supervision, says CFTC chair

Timothy Massad, CFTC

The "proper model" for cross-border regulation of clearing houses is for them to register in multiple jurisdictions, rather than for one country's supervisor to defer to the rules of another, according to Timothy Massad, chairman of the Commodity Futures Trading Commission (CFTC). That could open a new front in the ongoing battle over the authorisation of US clearing houses in Europe.

His comments, made in a speech last month, initially puzzled lawyers and other observers because they appeared