CFTC Chair J. Christopher Giancarlo proposed an alternative cross-border swaps framework to "better balance systemic risk mitigation with healthy swaps market activity in support of broad-based economic growth."
In a new white paper, he previewed weeks ago, Mr. Giancarlo outlined his views on the current CFTC approach to regulating cross-border activities and suggested a new approach that would encourage greater cooperation with non-U.S. jurisdictions. Mr. Giancarlo recommended, among other things: