The chairman of the Commodity Futures Trading Commission says that excluding swaps between foreign branches of U.S. companies and offshore organizations r4om Dodd-Frank reforms is not an option.
Speaking at the Financial Industry Regulatory Authority’s annual conference, CFTC chair Gary Gensler said that a piece of U.S. legislation, House Bill 3283, would lead to “vast parts of the swaps market not coming under reform.''
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