CFTC Likely To Tap Industry Body To Enforce Swaps Rules
Budget constraints could force the U.S. futures regulator to outsource enforcement of planned new trading rules to an industry- funded body, a senior official said Thursday.
The CFTC has alerted the industry-backed National Futures Association that it may be asked to shoulder some oversight of the over-the-counter derivatives market handed to the government agency by the Dodd-Frank financial reform law.
The CFTC has estimated that 300 to 400 new firms will register with the agency when it assumes oversight of the OTC market.
Publication
DowJones
Date
January 13, 2011
Cross References (links may require a Cabinet subscription)
Dodd-Frank Act, Title VII