CFTC proposes delay of some Dodd-Frank rules to end of 2012

May 10 (Bloomberg) -- The U.S. Commodity Futures Trading Commission proposed delaying some Dodd-Frank Act derivatives regulations from taking effect until as late as the end of the year.

The commission voted in a private process to allow temporary exemptive relief from rules that were scheduled to take effect in July 2011, Gary Gensler, the agency’s chairman, said today at a meeting in Washington.

Gensler said the proposed exemptive order “addresses comments from market participants requesting clarity regarding the transactions in and clearing of agricultural swaps, as well as comments from unregistered trading facilities that offer swaps for trading.”

The CFTC is required under the Dodd-Frank Act to write regulations that reduce risk in the swaps market after largely unregulated derivatives trades helped fuel the 2008 credit crisis.

Bloomberg News

Gary Gensler Statement

Scott O'Malia Statement

Federal Register

O'Malia proposed schedule

CFTC updated rule schedule

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