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Wednesday, March 13, 2013

CFTC to Possibly Rethink Cross-Border Implementation Deadline

News sources are reporting that at a Futures Industry Association conference CFTC Commissioner Mark Wetjen said the CFTC may consider extending the July implementation deadline for its new Dodd-Frank derivatives rules that will begin to apply to cross-border activities, as European officials signal that their own implementation timeline could stretch into next year.

The announcement from the European Securities and Markets Authority "creates a problem," Wetjen said.

Reports indicate Wetjen said the CFTC has to be mindful of competition and risk considerations. "It's going to make that decision about whether to extend it maybe a little more tricky than we would like, but it almost seems inevitable that we're probably going to have to consider extending it."

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