Commodity Futures Trading Commission Chair Gary Gensler told a House subcommittee hearing this week he would like to see two changes in the Commodity Exchange Act. Those changes include additional authorities to oversee the over-the-counter derivative marketplace and additional resources to best protect the American public.
Gensler told the hearing that the regulatory reform measures being considered by both the House and Senate should require swap dealers and major swap participants to register and come under certain requirements. He also said the CFTC should be able to impose position limits across both futures and OTC derivatives markets; and a clearing house should be established.
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