CFTC Chairman Gary Gensler's Testimony before the U.S. House Committee on Financial Services
On June 19, 2012, in his testimony before the U.S. House Committee on Financial Services, CFTC Chairman Gary Gensler promoted three goals of CDS reform:
- Bring public market transparency and the benefit of competition to the swaps marketplace;
- Protect against Wall Street's risks by bringing standardized swaps into centralized clearing; and
- Ensure that swap dealers and major swap participants are specifically regulated for their swaps activity.
View speech in full here(links externally to CFTC website).