CFTC Hammers At Loopholes In OTC Regulation Plan

Law360, New York (August 20, 2009, 12:44 PM EDT) -- The head of the U.S. Commodity Futures Trading Commission has sent key U.S. lawmakers a list of suggested changes to the Obama administration's over-the-counter derivative regulatory proposal, asking Congress to eliminate exemptions and tighten oversight in its final version of the legislation.

CFTC Chairman Gary Gensler sent almost 30 pages of suggestions, amendments and revisions aimed at toughening proposed legislation to rein in the complex OTC derivatives market submitted to Congress last week by the U.S. Treasury, to Senate Agriculture Committee Chairman Sen. Tom Harkin, D-Iowa,...
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