The former GFI broker has become increasingly critical of US rules
A commissioner of the US futures regulator
has slammed his agency’s swaps reforms and
proposed an alternative approach based on free-market
principles that rolls back much of the swaps work already
undertaken by the body.
Chris Giancarlo, a former swaps broker at
GFI Group who was sworn in as a commissioner at the Commodity
Futures Trading Commission in June, said: "The fundamental
problem is the CFTC’s regime is over-engineered
and mismatched to the distinct liquidity, trading and market
structure characteristics of the global swaps market."
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