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U.S. Must Respect Overseas Swaps Rules: CFTC’s Wetjen

Commissioner argues the CFTC should defer to comparable international regulations.

By Silla Brush, Bloomberg | Updated on September 14, 2012

The U.S. Commodity Futures Trading Commission, facing concerns from European and Asian regulators about the scope of new swaps rules, should rely on overseas authorities when possible, Commissioner Mark P. Wetjen said.

“In light of the commission’s limited resources, efficient regulation through deference to comparable regulation just makes sense,” Wetjen, one of three Democrats on the five-member CFTC, said today in remarks prepared for delivery at an International Swaps and Derivatives Association Inc. conference in New York.

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