December 4, 2012
“I’m gratified to see the joint statement on international implementation of derivatives reform issued this morning by global regulators. It is my expectation that the CFTC will very shortly provide more specific granularity to the international community on the precise nature of regulatory relief required for a smooth implementation. I have called for a six-month transition period before compliance with regulations would be required. I look forward to working with other regulators to harmonize and implement derivatives market reform to protect markets and consumers.
This step is an important acknowledgment of the need to harmonize global financial regulatory reform efforts. We can now reasonably expect more secure global regulatory regimes which will result in better markets and economies."
Last Updated: December 4, 2012