CFTC commissioner said swap rules hurting US jobs and should be re-drawn
Chris Giancarlo, the new commissioner at
the US derivatives regulator, has issued his strongest worded
critique of the US derivatives reforms, arguing they have made
the US less attractive to European investors and should be
Giancarlo, who only started at the
Commodity Futures Trading Commission in June, said in a
statement: "I believe the CFTC’s swaps regime is
fundamentally mismatched to the natural commercial workings of
the swaps markets. It is ill-suited to its stated goals of
market stability, enhanced transparency, and regulatory
supervision. It is a square peg being forced into a round
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