CFTC misusing Dodd-Frank to expand its role, says CME's Duffy
CME chief accuses regulator of overreaching, as line-up of industry figures attacks Dodd-Frank rules
The Commodity Futures Trading Commission (CFTC) has misused the Dodd-Frank Act to expand its regulatory authority, with the effect that the use of regulated markets and clearing are becoming less appealing, US politicians heard in damning testimony from derivatives market participants yesterday.
At a hearing of the House Committee on Agriculture in Washington, DC, representatives from trade associations and clearing houses delivered a scathing assessment of Dodd-Frank rules written by the CFTC
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