Bart Chilton, commissioner at the Commodity Futures Trading Commission, has called on the US Congress to pass the proposal for reform of the derivatives market proposed by US President Obama into law “expeditiously”.
In a statement issued on August 12, Chilton hailed the proposal as a “much needed” change from a “hands-off” attitude towards regulation of the derivatives market that previously characterised the US derivatives oversight.
“These changes, if enacted into law, will bring transparency and accountability to these markets, as well as the ability for federal regulators to move in promptly if...