CFTC Regulator Demands Final Rule On Derivatives Conflicts

Law360, New York (September 21, 2012, 7:19 PM EDT) -- The Commodity Futures Trading Commission by year's end must finalize conflicts-of-interest rules that dictate management structure at clearinghouses and exchanges in hopes of preventing abuse in the $650 trillion over-the-counter derivatives market, one of the agency's top regulators said Friday.

Democrat Bart Chilton, one of the CFTC's five commissioners, said in prepared remarks at the Hard Assets Investment Conference in Chicago that requirements for minimum numbers of public directors on boards and nominating committees are essential to avoiding a repeat of the financial crisis. Restrictions on...
To view the full article, register now.