CFTC policy chief defends US regulator's extraterritorial rules
The failure of other financial regulators to establish a framework for swap execution facilities leaves US no option but to enforce its own standards globally, says Ananda Radhakrishnan
One of the architects of the Commodity Futures Trading Commission's (CFTC) US person rules has defended his agency's extraterritorial stance as necessary due to a lack of finalised rules by other jurisdictions including Europe.
Speaking in a personal capacity at a Futures Industry Association Asia event in Hong Kong last week, Ananda Radhakrishnan, director, division of clearing and risk, at the CFTC, acknowledged that the agency's cross-border guidance has caused confusion and opposition but
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