OTC MARKET NEWS Powered By Quantifi

CFTC’s Gensler Says Regulators Reached ‘Right Balance’ on Rules 

December 30, 2013
Cheyenne Hopkins, Bloomberg

U.S. regulators’ Dodd-Frank rules properly balance Wall Street’s pursuit of profits with the public’s need for a stable financial system, said outgoing Commodity Futures Trading Commission Chairman Gary Gensler.

“We struck the right balance but we live in a great Democracy and as we move from Congress to the rule-writing agencies some inevitably do end up in the courts,” Gensler said in a Bloomberg Television interview for broadcast today. “We think we struck the right balance and particularly on the cross-border rules.”

Gensler’s comments follow the American Bankers Association’s court challenge of the Volcker Rule over claims that requiring small banks to divest their holdings in some collateralized debt obligations will cause them about $600 million in losses. The CFTC was among five agencies that issued the rule. The agency has faced several other suits related to rule writing.

Read more: Bloomberg

Comments are closed on this post.


Submit your email to receive our newsletter