October 1, 2010
Washington, DC – The Commodity Futures Trading Commission (CFTC) will convene a meeting of its Global Markets Advisory Committee (GMAC) on Tuesday, October 5, 2010, to obtain the views of international regulators, futures industry professionals and market participants on global financial regulatory reform and regulatory reform in the United States (U.S.) underway to implement the Dodd-Frank Wall street Reform and Consumer Protection Act (Dodd-Frank). The Committee is comprised of individuals representing various U.S. and foreign exchanges, self-regulatory organizations, intermediaries, market users and traders with extensive experience and expertise involving global futures markets issues, and has been chaired by CFTC Commissioner Jill E. Sommers since February 2008.
The Committee will host Mr. Chikahisa Sumi, Deputy Commissioner for International Affairs and Competitiveness at the Japanese Financial Supervisory Agency to discuss Japan’s legislation relating to OTC clearing, and Mr. Patrick Pearson, Head of the Financial Markets Infrastructure Unit in the European Commission’s (EC) Internal Market Directorate General to discuss the EC’s legislative proposals governing clearing and reporting obligations with respect to OTC derivatives, and the regulation of clearinghouses and trade repositories.
This is the first meeting of the Committee since the passage of Dodd-Frank and Japanese legislation, and since the EC released its legislative proposals. “This meeting cannot come at a better time to discuss issues critical to the global financial markets and regulatory reform” said Commissioner Sommers. “We are very honored to be hosting Mr. Sumi and Mr. Pearson and look forward to a productive dialogue with them at the meeting and as regulatory reform progresses.”
The meeting is open to the public. The meeting will also be webcast via the internet and audio of the meeting will be available via a listen-only conference call.
Global Markets Advisory Committee meeting
CFTC Headquarters lobby-level Hearing Room, 1155 21st Street, NW, Washington, DC 20581
October 5, 2010
1:00 p.m. – 5:00 p.m.
The CFTC has made available the following options to access the meeting:
1. Watch a live broadcast of the meeting via webcast on www.cftc.gov.
2. Call in to a toll-free telephone line to connect to a live audio feed.
Call in participants should be prepared to provide their first name, last name and affiliation. Conference call information is listed below:
Domestic Toll Free: 1-866-844-9416
International Toll: Under Related Documents
Conference ID: 8181780
Call leader name: CFTC Telecom
Pass Code/Pin Code: 46015
R. David Gary
Last Updated: October 1, 2010