CFTC Delays Vote On Swap Exchange Facility Rule

Law360, New York (December 9, 2010, 2:37 PM EST) -- The U.S. Commodity Futures Trading Commission on Thursday reportedly delayed a vote on a final rule for the creation of swap execution facilities after two Republican commissioners raised objections to the proposal.

According to the Wall Street Journal, the CFTC had been prepared to vote on the SEF proposal at an open meeting, going so far as to send out a fact sheet outlining it. CFTC Chairman Gary Gensler, however, postponed a vote to next week, offering to tweak the rule.

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