Christopher Giancarlo, chairman of the Commodity Futures
Trading Commission (CFTC), today announced that the Commission
will soon vote on three cross-border proposals that could have
a drastic impact on the international sector.
Making his final speech as chairman at the International
Derivatives Expo this morning in London, Giancarlo outlined the
three cross-border proposals from the
October 1 2018 Cross-Border Swaps Regulation Version 2.0
white paper, which laid out provisions to limit the application
of US rules for cross-border swaps.
The staff have prepared three rulemakings that are under
consideration by the Commission, looking at issues relating to
the central counterparties and swap dealer and major swap
participants’ registration and regulation.
In an interview with IFLR last week, Giancarlo outlined the
move: "Two of the proposals up for the vote...