DOJ Knocks SEC, CFTC Derivatives Proposals

Law360, New York (January 3, 2011, 4:00 PM EST) -- The latest proposals by the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission to regulate derivatives trading may not adequately police competition issues in the industry, according to the U.S. Department of Justice.

In letters to the agencies on Dec. 28, DOJ antitrust head Christine Varney primarily took issue with the SEC's proposed ownership limits on security-based swap execution facilities, known as SEFs, and national securities exchanges that trade or make available security-based swaps.

If modified, the SEC's rulemaking has the potential...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.