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CFTC OKs Global Swaps Guidance

Commission votes 5-0 to propose guidance for international reach of derivatives rules.

By Silla Brush, Bloomberg | Updated on June 29, 2012

The U.S. Commodity Futures Trading Commission voted to propose guidance for the international reach of Dodd-Frank Act derivatives rules for JPMorgan Chase & Co., Goldman Sachs Group Inc. and other financial institutions, according to two people briefed on the matter.

The guidance approved today after a unanimous vote by the CFTC’s five commissioners will determine which overseas units of U.S. banks must comply with rules dictated by the 2010 regulatory overhaul. The vote was conducted through a private process in which commissioners gave their approval on paper.

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