The CFTC and SEC will ask the public to weigh in on the impact of Dodd-Frank regulations with regard to international business in the $600 trillion swaps market.
The news came at an Aug. 1 roundtable conducted in Washington, D.C., by the staffs of the financial regulators. The purpose of the public roundtable was to discuss international issues related to the implementation of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“We will seek further public comment at the CFTC about these international issues,” CFTC Chairman Gary Gensler said at the meeting.
Panels included representatives from a number of firms discussing cross-border transactions, market infrastructure and global impact. Panelists stressed that domestic regulators must work with overseas regulators to coordinate rules and regulations.