Gensler criticises reworked rules on OTC derivatives
The chairman of the Commodity Futures Trading Commission (CFTC) has criticised a reworked draft law to regulate over-the-counter derivatives markets, claiming it has weakened the US Treasury's initial stance on mandatory central clearing while threatening to deprive corporate end users of the ability to appropriately hedge risk.
Testifying before the House Committee on Financial Services, CFTC chairman Gary Gensler noted a number of key changes between the initial Over-the-Counter Derivatives
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