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Wednesday, December 26, 2012

House Ag Members Concerned Over Derivatives Implementation

A bipartisan group of 14 members from the General Farm Commodities and Risk Management Subcommittee wrote a letter to the CFTC regarding the impending Dec. 31cross-border implementation deadline.

From the letter:
We are very concerned that a lack of coordination between both foreign and domestic regulators could soon lead to a disruption of the derivative markets.

Ultimately, if Dodd-Frank is not implemented correctly, … American financial institutions can and will lose business to foreign competitors if Title VII rules are not implemented in proper coordination and sequence with other international reform efforts.
Read the full letter.

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