Philip McBride Johnson argues that regulators can't wait to solve the issues of regulatory extraterritoriality.
The CFTC has published an "interpretive guidance" on how it
plans to apply the Dodd-Frank Act to foreign swap operations
that could have a substantial impact on U.S. commerce. Not
surprising, since failures abroad played a part in the 2008
financial crisis and a nearly trillion dollar bail-out by
Not surprising, either, that foreign regulators both East
and West are alarmed that the CFTC may encroach on their own
right to set standards within their borders. What to do?
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