Swap-Rule Deadline Called Unrealistic

Scott O’Malia, a member of the U.S. Commodity Futures Trading Commission, called a July deadline for completing rules to govern the swaps market unrealistic, reports Bloomberg.

Scott O’Malia, a member of the U.S. Commodity Futures Trading Commission, called a July deadline for completing rules to govern the swaps market unrealistic. Speaking at a forum in New York, the Republican commissioner said the tight one-year deadline mandated by the Dodd-Frank Act may encourage some working on the regulations “to ignore the fundamental preferences of swaps market participants and do a regulatory cut-and-paste job.”

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