Gary Gensler, chairman of the US Commodity Futures Trading Commission, outlined on June 4 his vision for derivative market regulation.
Addressing the Senate Committee on Agriculture, Nutrition and Forestry, Gensler expanded on the plan unveiled by treasury secretary Tim Geithner, which called for a radical overhaul of over-the-counter (OTC) derivatives.
Gensler said the CFTC would seek to implement laws to regulate two distinct areas of the OTC derivatives market.
“We must implement two complementary regulatory regimes: one focused on...