Gensler calls for end to financials’ information advantage

CFTC chairman supports trading requirements in both versions of the financial reform bill that would benefit derivatives users rather than Wall Street banks, but calls for tighter exemptions to prevent systemic risk

Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), said trading requirements contained in both versions of the US financial reform bill should be upheld when legislators meet this month to debate the final version of US financial reform legislation.

“Every exemption, exception or loophole could weaken the legislation, leave risk in the system and strengthen Wall Street’s information advantage,” he said in speech to the Sandler O’Neil Global Exchange and Brokerage