Gensler calls for tighter regulation of dealers
Commodity Futures Trading Commission (CFTC) chairman Gary Gensler refused to detail a timetable for imposing position limits on energy traders today, but called for tighter regulation of dealers in over-the-counter derivatives.
Speaking to the Council on Foreign Relations in New York today, Gensler said there was “a very real consensus” that reform is needed in the derivatives market to prevent another financial crisis in the future. He said while the bill passed by the House of Representatives in December to tackle OTC derivatives regulation did not include everything the CFTC had hoped, it was still a strong bill.
Outlining the need for comprehensive reform of OTC derivatives, Gensler said: “Leading up to the
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