Cargill reveals 'struggle' with Dodd-Frank swap dealer rules
Non-financial firms face huge hurdles to comply with Dodd-Frank swap dealer rules, says chief compliance officer for Cargill Risk Management
Minnesota-based commodities trading giant Cargill – the first non-financial company to register as a swap dealer under the US Dodd-Frank Act – has faced numerous hurdles in its efforts to comply with swap dealer rules, according to the chief compliance officer of Cargill Risk Management, the company's registered swap dealer.
"There are no joys" to registering as a swap dealer, Uzi Rosha said in a keynote speech at Energy Risk Summit USA in Houston on May 21.
In all, swap dealers face a total of
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