CFTC Chairman Calls For Regulation Of OTC Dealers

Law360, New York (January 27, 2010, 7:33 PM EST) -- The government needs to enact comprehensive reform of over-the-counter derivative markets that includes requiring dealers to bring their standardized transactions to transparent venues and regulated clearinghouses, the chairman of the U.S. Commodity Futures Trading Commission said Wednesday.

Speaking at Fordham University's College of Business Administration, CFTC Chairman Gary Gensler said both Congress and the administration need to work to reform the financial regulatory system, and that must include the regulation of banks and other firms that deal in derivatives.

Though some derivatives, such as futures, have...
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