CFTC to vote on three measures from swaps reform whitepaper

Author: John Crabb | Published: 5 Jun 2019

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...