CFTC set to partner with SEC on CDS supervision
Move could open the door to single-name clearing mandate, say experts
The top US markets regulators have reached a tentative agreement to jointly regulate single-name credit default swaps (CDS), Risk.net has learned. The deal will pave the way for the Commodity Futures Trading Commission to propose a clearing rule for single-name CDS, fulfilling a key provision of the Dodd-Frank Act.
CFTC chairman Christopher Giancarlo discussed the agreement in a behind-closed-doors meeting with industry participants on March 13.
“Giancarlo said this was a done deal,” says a
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