OpRisk Europe: No race to the bottom on derivatives, says CFTC’s Chilton
CFTC due to release interpretive guidance note within a week, which aims to clarify extraterritorial application of its rules
Tough new rules for over-the-counter derivatives markets in Europe and the US may be prompting other countries to vie for that business by touting more relaxed regimes – but the tactic will not work if the world's biggest trading centres present a united front, according to Bart Chilton, commissioner at the Commodity Futures Trading Commission.
"While there may be some regulators out there who are making the rounds to banks with sales pitches about being able to trade in a regime with weaker
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